China's Industrial Production, Retail Sales Growth Eases
May 14 2017 - 09:50PM
RTTF2
China's industrial production and retail sales growth
decelerated more-than-expected in April reflecting weak foreign
demand and domestic spending at the start of second quarter, data
published by the National Bureau of Statistics showed Monday.
Industrial production expanded 6.5 percent year-on-year in
April, weaker than the 7.6 percent rise in March. Economists had
forecast a 7 percent increase.
Likewise, retail sales growth eased to 10.7 percent from 10.9
percent in March. Sales were forecast to climb 10.8 percent.
During January to April, fixed asset investment excluding rural
areas increased 8.9 percent compared to 9.2 percent growth in three
months to March. Economists had forecast 9.1 percent expansion.
NBS data showed that property development investment increased
9.3 percent during January to April, versus 9.1 percent in January
to March period.
Softer foreign demand and domestic consumption were the
immediate culprits, with infrastructure and property activity
actually holding up reasonably well, Julian Evans-Pritchard, an
economist at Capital Economics, said.
"But we doubt the current strength in these areas can be
sustained given that policy is being tightened and the property
market is starting to cool," the economist added.
The International Monetary Fund forecast China to expand 6.6
percent this year and 6.2 percent in 2018.
China's economy expanded 6.9 percent in the first quarter of
2017, the fastest since the third quarter of 2015. The government
targets about 6.5 percent growth for this year.
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