MNI BRIEF: China April Data Shows Insufficient Demand - NBS

China's April data showed domestic demand remains insufficient, while overall economic operations were stable and continuing the upward recovery, Liu Aihua, spokesperson for the National Bureau of Statistics said on Friday.

When questioned on the impact of U.S. tariffs, Liu said the national economy's strong resilience was conducive to resolving external shocks.

Liu added total retail sales of consumer goods maintained a positive trend despite growth slowing to 2.3% y/y due to high base effects.

On CPI, authorities expect a moderate rebound following April's 0.3% print, driven by the trade in policy for consumer goods and a recovery in services demand, Liu noted.

The People’s Bank of China should increase its purchase of treasury bonds to support an expansionary fiscal stance, as the country struggles with insufficient demand which makes monetary easing measures grow less effective, a former PBOC advisor told MNI in an interview. (See MNI INTERVIEW: PBOC Can Use QE Strategically If Necessary - Yu)