From CNBC: 2024-05-16 22:41:04

China reported slower growth in retail sales, up 2.3% in April, industrial production rose 6.7%. Fixed asset investment increased by 4.2% in the first four months, and real estate investment declined 9.8%. The urban unemployment rate in April was 5%. China announced a program to issue long-term bonds for strategic projects.

Exports grew by 1.5% in April, while imports increased by 8.4%. Consumer prices rose, but factory level prices declined. New loan data for April fell, reflecting weak demand. The real estate sector continues to struggle. More cities are easing housing purchase restrictions to boost sales.

China’s officials will discuss housing policies to support home delivery. The property market is expected to stabilize by the end of next year. China’s GDP grew by 5.3% in the first quarter and has set a target of around 5% for 2024. The EU Chamber of Commerce in China notes cyclical economic pressures and the need for increased domestic demand.

Read more: April retail sales, industrial production, investment data