China’s Retail Sales Slowed to 9.4% in April
China's business activities showed mixed results last month, as industrial output quickened but investment and retail sales slowed. The National Bureau of Statistics (NBS) reported that China's retail sales of consumer goods grew 9.4% year-on-year to reach 2.85 trillion yuan ($450 billion) in April. It was weaker than the forecast of +10.0%. This is the lowest reading for this data in over a decade. Property sales growth also softened to 1.3% in January-April, down from 3.6% in January-March.
Industrial output in China rose by 7.0% in April from a year earlier, accelerating from a 6.0% year-over-year increase in March, according to data from the National Bureau of Statistics. April's increase exceeded the median forecast of 6.4% growth.
Fixed-asset investment outside rural households grew by 7.0% in the January-April period from a year earlier. Growth in infrastructure spending slowed to 12.4% in the first four months from 13% earlier in the year. Real estate investment grew by 10.2% in April on-year, slowing from a 10.8% rise in March.