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