China’s Economic Data Disappoint in April as Covid Controls Weigh

20 May 2022

China reported a drop in retail sales and industrial production in April — far worse than analysts had expected.

Retail sales fell by 11.1% in April from a year ago, more than the 6.1% decline predicted in a Reuters poll.

Industrial production dropped by 2.9% in April from a year ago, in contrast with expectations for a slight increase of 0.4%. The output of mining and utilities businesses grew.

The unemployment rate in China’s 31 largest cities climbed to a new high of 6.7% in April, according to data going back at least to 2018.

Source:  CNBC
Post by: Republic of Turkiye Ministry of Trade