China’s Industrial Growth Tops Analysts Expectations
China’s industrial output grew 7.0% in April from a year earlier, much more than expected, but fixed-asset investment growth slowed to 7.0% in the 1st 4 months, below forecasts, official data showed Tuesday.
Analysts polled by Reuters had predicted industrial output growth would rise to 6.3%, bouncing back from a softer-than-expected 6.0% reading in March.
Investment growth had been expected to ease only slightly to 7.4% in the 1st 4 months from the same frame a year earlier, compared with 7.5% in January-March.
Private sector fixed-asset investment rose 8.4% in January-April, slowing from growth of 8.9% in Q-1.
Private investment accounts for about 60% of overall investment in China.
Retail sales rose 9.4% in April from a year earlier, missing expectations of an increase of 10.0%, compared with a rise of 10.1% in March.
China’s economy grew at a slightly faster-than-expected pace of 6.8% in Q-1, well above Beijing’s target of around 6.5% for the full-year.