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MNI BRIEF: China April Sales, Output, Unemployment At 2-Yr Low

MNI (Singapore)
SINGAPORE (MNI)
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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)

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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)

Keep reading...Show less