China’s industrial output growth slowed in May but consumer spending picked up, according to official data, highlighting uncertainty for the world’s second-largest economy as it navigates a trade war with the US.
Industrial production last month expanded 5.8 per cent year on year, the National Bureau of Statistics said on Monday, its slowest pace this year and down from 6.1 per cent growth in April.
Retail sales grew 6.4 per cent, beating analysts’ forecasts and the fastest expansion since December 2023.
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