Citizens are shopping at a supermarket in Nanjing, Jiangsu Province, East China on March 9, 2024.
costfoto | nuphoto | Getty Images
China’s retail sales slowed in April, data from the National Bureau of Statistics showed on Monday, indicating that consumption remains a concern for the world’s second-largest economy.
Retail sales rose 5.1% from the previous year in April, with analyst estimates losing 5.5% growth rates, according to a Reuters poll. Sales increased by 5.9% the previous month.
Industrial output rose 6.1% year-on-year in April, slowing from a 7.7% jump in March, while still stronger than an analyst 5.5% increase, indicating that the impact from US tariffs was not particularly noticeable.
Fixed asset investments for the first four months of the year, including assets and infrastructure investments, expanded to 4.0%, slightly lower than analysts’ expectations for a 4.2% growth in Reuters polls.
Drugs from real estate worsened within fixed asset investments, falling 10.3% as of April.
The unemployment rate, based on the April city survey, was eased to 5.1% from 5.2% in March.
“We need to be aware that there are still many unstable and uncertain factors. [the] The Bureau of Statistics “needs to further integrate the Foundation for Sustainable Economic Recovery,” the Bureau of Statistics said.
US President Donald Trump placed a 145% tariff on imports from China, which came into effect in April. Beijing retaliated with customs duties on physical items, and 125% was collected for US imports.
The fears of a trade war have receved after a meeting with US-China trade representatives in Switzerland earlier this month saw a drop in the set of taxation between all two great economies in the world.
Beijing and Washington agreed to roll back most of the tariffs imposed on each other’s goods for 90 days, allowing more negotiation room to reach a more permanent transaction.
It prompted China’s economic growth forecast this year to raise forecasts of China’s economic growth as Beijing strives to achieve its growth target of around 5%.
This is fast news. Please check the update later.
