economy
China's economy loses steam in April as retail sales hit 40-month low
China's economy stumbled in April with consumption, industrial output and investment growth missing expectations.
TL;DR
- Retail sales growth slowed to 0.2% in April, the weakest since December 2022.
- Industrial output growth decelerated to 4.1% in April.
- Urban fixed asset investment contracted by 1.6% in the first four months of the year, driven by a decline in the property sector.
- Property investment has nearly halved since its 2021 peak.
- Exports surged by 14.1% in April, exceeding expectations.
- China and the U.S. agreed to new trade measures, including agricultural purchases and aircraft orders, and established joint trade and investment boards.
- Producer prices hit a 3-year high, ending a deflationary streak.
- Spending on cultural, tourism, sports, and entertainment activities showed robust growth.