China industrial production grows in April, retail sales disappoint
Investing.com-- Chinese industrial production grew more than expected in April, indicating that a recovery in the country’s massive manufacturing sector remained on track amid increased government support.grew 6.7% year-on-year in April, data from the National Bureau of Statistics showed on Friday. The reading was much higher than expectations of 5.5, and accelerated from the 4.5% rise seen in March.
Softening economic conditions over the past year saw Chinese consumers scale back heavily on discretionary spending. This in turn put China in a sustained deflationary trend- one which the country is still struggling to break free from.
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