China April industrial output declines 2.9% y/y, retail sales fall 11.1% y/y

BY Reuters | ECONOMIC | 05/15/22 10:00 PM EDT

BEIJING, May 16 (Reuters) - China's industrial output fell 2.9% in April from a year earlier, down sharply from a 5.0% increase in March, data from the National Bureau of Statistics showed on Monday, and weaker than 0.4% growth seen in a Reuters poll.

Retail sales in April shrank 11.1% year-on-year amid wider and stringent COVID-19 curbs on activity, after falling 3.5% in March. The figure was below analysts' expectations for a 6.1% drop.

Fixed asset investment increased 6.8% in the first four months from the year-earlier period, compared with the 7.0% increase tipped by the Reuters poll and 9.3% growth in the first three months. (Reporting by Ellen Zhang and Kevin Yao; editing by Bernard Orr)

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