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)

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

fir_news_article