China’s industrial production rose more than expected last month, but retail sales grew more slowly in a sign that weak consumer sentiment was weighing on a recovery in the world’s second-largest economy.
Industrial production grew 6.7 per cent per cent year on year in April, official data from the National Bureau of Statistics showed on Friday, beating a forecast of 5.5 per cent from economists polled by Bloomberg and 4.5 per cent growth in March.
However, retail sales grew only 2.3 per cent from a year earlier, falling far short of an analysts’ forecast of 3.7 per cent and declining from 3.1 per cent growth in March, signalling that authorities will need to strengthen efforts to stimulate domestic consumption.
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