China’s value-added industrial output surged 8.7 percent in April from a year ago, down from March’s 8.8 percent growth, reported the National Bureau of Statistics.
This lagged the median estimate of a growth of 8.9 percent in a Dow Jones survey of 18 economists. Industrial production grew 0.82 percent month-to-month between March and April, compared with February-March’s growth of 0.81 percent.
Investment in fixed-assets in China’s urban areas grew 17.3 percent in January to April compared to a year ago, reported Wall Street Journal.
Retail sales surged 11.9 percent to 1.97 trillion yuan (US$322.97 billion) last month from a year ago, down from the 12.2 percent growth posted in March. This also lagged the economists’ forecast of a growth of 12.2 percent in April. The retail sales grew 0.83 percent in April from a month earlier. This contrasts with a growth of 1.24 percent between February and March.
Chinese retail sales rose 12 percent in the first four months of the year to 8.18 trillion yuan on a year-on-year basis. Sales in rural areas exceeded those in towns and cities. Rural area sales grew 13.2 percent in January to April, while those in urban centres rose 11.7 percent from a year ago, reported Xinhua News.
The Consumer Price Index, the benchmark measure of inflation, rose 1.8 percent from a year earlier in April. This was lower than March’s growth of 2.4 percent, said NBS in Friday. Economists believe that the low CPI may be the reason why retail sales stagnated in the first quarter.