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China’s industrial output remains steady, retail sales up in May

by ChemOrbis Editorial Team -
  • 13/06/2016 (14:19)
According to data compiled by China’s National Bureau of Statistics, the country’s industrial production rose 6% on the year in May, stable compared with the previous a month and in line with the economists’ expectations in a survey by the Wall Street Journal. Retail sales, meanwhile, grew by 10% in May compared with a year earlier, down from a 10.1% increase in April.

However, China’s investments fell in May as stagnant demand and industrial overcapacity continued to put pressure on the Chinese economy. The data showed that China’s non rural fixed-asset investment rose at a slower pace of 9.6% on the year in January-May period compared with an increase of 10.1% in the first four months of the year. Private investment, meanwhile, rose 3.9% in May, down from a gain of 5.2% in the previous month.

Economists commented that the government may need to implement additional stimulus measures to spur infrastructure spending.

The National Bureau of Statistics also reported that the country’s housing sales surged 53.4% on the year in the January-May period.
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