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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI BRIEF: China April Sales, Output, Unemployment At 2-Yr Low
China's consumption and industrial output slowed more than expected to levels two years ago when the pandemic first sapped the economy, with investment, the main growth driver this year, unexpectedly decelerating, data by the National Bureau of Statistics on Monday showed.
Retail sales slumped 11.1% y/y in April, falling further from March's 3.5% decline, and worse than the forecast 6.2% decline. The figure hit the lowest since March 2020. (See: MNI: China Needs Tax Cuts, Consumer Spending Coupons-Advisors)
Industrial production unexpectedly fell 2.9% y/y in April, reversing a 5.0% March gain and turning negative for the first time since March 2020.
Fixed-asset investment slowed to 6.8% y/y in the first four months, from Q1's 9.3% gain, missing the 7.0% forecast. Property investment fell 2.7% y/y to hit the lowest level since April 2020, reversing the previous 0.7% gain. Infrastructure and manufacturing investment decelerated to 6.5% and 12.2%, respectively, from the previous 8.5% and 15.6%. (See: MNI: Property Market Key To China's 2022 Growth Hopes-Advisors)
The surveyed urban unemployment rate was 6.1% in April, the highest since February 2020 and up 0.3 percentage point from March.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.