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China May industrial output weaker than expected; investment, retail sales also miss


Reuters


BEIJING, June 14 (Reuters) - China's industrial output grew 6.8 percent in May from a year earlier, missing expectations, while fixed-asset investment growth slowed to 6.1 percent in the first five months, well below forecasts, official data showed on Thursday.

Analysts polled by Reuters had predicted industrial output growth would dip only slightly to 6.9 percent from 7.0 percent in April.

Fixed-asset investment growth had been expected to remain steady at 7.0 percent in the first five months of the year, the same pace as in January-April.

Retail sales also missed expectations, rising 8.5 percent in May from a year earlier, versus expectations of an increase of 9.6 percent and compared with a rise of 9.4 percent in April.

Despite stronger-than-expected first-quarter growth, analysts polled by Reuters still expect China's economic growth to cool gradually this year to around 6.5 percent, even if there are no direct shocks from its trade dispute with Washington.




This article appears in: Stocks , World Markets , Politics



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