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China Factory output rises by 4.4% in May but misses forecast
14 Jun 2020

China’s industrial output rose 4.4% year-on-year in May but the gain is short of expectations, indicating the economy is still struggling to recover from the coronavirus crisis.

According to analysts polled by Reuters, industrial output was to quicken slightly to 5.0% from a year earlier as more businesses resumed production, following a rise of 3.9% in April.

While the 2.8% drop in retail sales was smaller than the 7.5% slump in April, but more than a predicted 2.0% fall by analysts.

China Factory

Sales fell for four straight months as shops, restaurants and other entertainment venues were directed to shut down during the pandemic.

Although lockdown measures have been eased, heavy job losses and fears of a second wave of infections make consumers remain cautious.

Fixed asset investment fell 6.3% in January-May year-on-year, compared with a predicted 5.9% fall and a 10.3% decline in the first four months of the year.

Private-sector fixed-asset investment fell 9.6% in January-May, compared with a 13.3% decline in the first four months of the year.

 

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