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Free AccessMNI DATA IMPACT: China Apr Ind Activities First Turns Positive
BEIJING (MNI) - China's consumption and investment continued to pick up in
April after the recovery shown in March, with industrial activity shaking off
negative growth for the first time this year.
The improvement in the April indicators was a compensatory recovery as the
virus-hit economy has not returned to the normal level of the same period last
year. Accumulated gains for the first four months were still in the declining
range, said Liu Aihua, spokeswoman of the National Bureau of Statistics at a
data release briefing on Friday.
Here are some of the data highlights:
- Industrial production grew 3.9% y/y in April, reversing the 1.1% lost in
March and outpacing the projected 1.8% gain.
- Retail sales fell 7.5% y/y, recovering from the 15.8% slump in March, but
the result was still the third drop on record. This was basically in line with
the -7% projection.
- Fixed-asset Investment tumbled -10.3% in the first four months, picking
up moderately from the -16.1% decline in Q1 but weaker than the -9.7%
projection. This was the third lowest level in history and was partly due to the
fall in manufacturing investment, which fell -18.8% y/y after the -25.2% slump
in Q1.
- Infrastructure investment growth recovered to -11.8% y/y in the Jan-April
period from the -19.7% plunge in Q1. Meanwhile, property investment growth
rebounded to -3.3% y/y from the previous -7.7%.
- Registered urban unemployment rose to 6.0% in April from March's 5.9%.
The rate in 31 major cities also edged up 0.1 percentage point to 5.8% from the
previous month.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com
--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com
[TOPICS: MAQDS$,MAUDR$,MAUDS$,M$A$$$,M$Q$$$,M$U$$$]
To read the full story
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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.