Chinese factory activity and retail sales picked up a notch in April, according to data released Monday, regaining some steam from weak showings the previous month. But expansion remained underwhelming, analysts said, and underlined the fact that the once red-hot Chinese economy is in the throes of a long-term transition toward slower growth.
Industrial output, the National Bureau of Statistics said, expanded 9.3 percent from April of last year, compared with the 8.9 percent reading in March, while retail sales grew 12.8 percent, compared with 12.6 percent in March. Analysts cautioned that the improvements did not represent a substantive pickup in growth and that the momentum in the Chinese economy remained muted.
Fixed-asset investment, an important engine of economic growth, grew 20.6 percent in the first four months of the year, but the figure was lower than analysts had forecast.
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Bettina Wassener, New York Times via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/MB9NNxlG_os/
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