Retail sales growth in China exceeded expectations, but other economic indicators lagged
June 17, 2024
Retail sales in China in May beat expectations, rising 3.7% year-on-year. This exceeded the 3% growth forecast by Reuters economists. By contrast, other economic indicators such as industrial production and investment in fixed assets fell short of expectations. Industrial production grew by 5.6% year-on-year, below the 6% growth expected, while investment in fixed assets rose by 4%, just below the 4.2% forecast in the Reuters poll.