China's industrial output growth eases, retail trade exceeds expectations
Industrial output rises 5.6% at annualized pace, retail sales hikes by 3.7% in May
China on Monday announced slower industrial production and better-than-expected retail sales data for May.
Industrial production increased 5.6% in May from a year earlier, compared to April's 6.7% rise, the National Bureau of Statistics data showed.
Output cooled for manufacturing (6% in May versus 7.5% in April) and utilities (4.3% versus 5.8%), while activity gained momentum for mining (3.6% versus 2%).
On a monthly basis, industrial output edged up by 0.3% in May, easing from a 1% growth in April.
Retail sales went up by 3.7% at an annualized pace in May, accelerating from a 15-month low of 2.3% gain in April and beating market forecasts of a 3% hike.
This marked the 16th straight month of rising retail turnover, and the sharpest since February 2024.
On a month-on-month basis, retail trade climbed 0.5% in May, the largest growth since October 2023.
The statistical authority also said the urban unemployment rate stood at 5% in May, stable compared to a month earlier.
