China's economic recovery continued in May
BEIJING–China's production-led economic recovery continued in May, even as Beijing struggled to lift investment and consumption amid the coronavirus pandemic.
From the Biotech Insider archive. This article dates from Jun 15, 2020 and is preserved as first published.
BEIJING–China’s production-led economic recovery continued in May, even as Beijing struggled to lift investment and consumption amid the coronavirus pandemic.
Value-added industrial production grew 4.4% in May, following a 3.9% expansion in April, the National Bureau of Statistics said Monday. May’s growth was slower than a median forecast of 5.0% growth by economists polled by The Wall Street Journal.
Retail and investment, however, kept dropping, albeit at a slower pace, official data showed.
Retail and investment, however, kept dropping, albeit at a slower pace, official data showed.
Retail sales dropped 2.8% in May from a year earlier, narrowing from April’s 7.5% decline. Economists had forecast a 2.0% drop.
Fixed-asset investment outside rural households slipped 6.3% in the January-May period after a 10.3% plunge over the first four months. Economists had expected a 6% decrease for the first five months.
China’s national surveyed urban unemployment rate was 5.9% in May, a tick down from April’s 6.0%.
