China’s industrial production, retail sales miss expectations
The National Bureau of Statistics cited weak external demand, the mediocre performance of the mining industry, higher commodity prices and seasonal factors as the main reasons behind slower growth in production.
According to the agency, fixed asset investment growth softened to 10.5% on the year from January to April compared with a 10.7% gain in the January-March period. This was attributed to slowing investments in the manufacturing and infrastructure sectors. Meanwhile, private investment rose 5.2% in the first four months of 2016 compared with an increase of 5.7% in the first quarter.
According to a separate report from NBS, retail sales rose 10.1% on the year in April, missing economists’ estimates of a gain of 10.6%.
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