China May industrial output rises 8.8%, retail sales up 12.4%, both miss forecasts

Reuters
·1 min read

BEIJING, June 16 (Reuters) - China's industrial output grew 8.8% in May from the same period a year ago, slower than the 9.8% rise seen in April, official data showed on Wednesday.

That also missed expectations for a 9.0% year-on-year increase in a Reuters poll of analysts.

Retail sales rose 12.4% from a year earlier. Analysts in the poll had expected them to grow 13.6% last month after surging 17.7% in April.

Fixed asset investment increased 15.4% in the first five months from the same period a year earlier, missing expectations for a 16.9% rise and slowing from a 19.9% jump in January-April.

The Chinese economy has largely shaken off the gloom from a coronavirus-induced slump last year, but officials warn the foundations for the recovery are not yet secure amid challenges including an appreciating yuan, rising raw material prices and global supply chain disruptions. (Reporting by Roxanne Liu and Gabriel Crossley; Editing by Kim Coghill)

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