China’s industrial output stumbles at 5.3% YoY in June

China’s industrial output increased by 5.3 per cent in June compared to the previous year, surpassing analyst expectations but falling short of May’s 5.6 per cent growth. This slowdown indicates a possible decline in domestic demand.

Retail sales, a key indicator of consumer spending, followed the trend of industrial output. In June, it slowed significantly, increasing by only 2.0 per cent year-on-year compared to the strong 3.7 per cent growth in May.

Fixed asset investment, which monitors infrastructure and property development spending, showed some stability. In the first half of 2024, it grew by 3.9 per cent year-on-year, meeting analyst forecasts and matching the 4.0 per cent growth seen from January to May.

Attribution: Reuters