China’s Industrial Output Rises 4.4%, Retail Sales Increase 3.1% In June

China's industrial output grew 4.4 per cent in June from a year earlier, unexpectedly accelerating from 3.5 per cent seen in May, but demand remains lukewarm amid a bumpy post-Covid economic recovery.

The data released by the National Bureau of Statistics (NBS) on Monday came above expectations for a 2.7 per cent increase in a Reuters poll of analysts.

Retail sales grew 3.1 per cent in June, slowing from a 12.7 per cent jump in May. Analysts had expected growth of 3.2 per cent.

Fixed asset investment expanded 3.8 per cent in the first six months of 2023 from the same period a year earlier, versus expectations for a 3.5 per cent rise. It grew 4 per cent in the January-May period.

China's post-pandemic economic recovery has slowed sharply after a brisk start in the first quarter, with the central bank pledging more support to boost activity and consumer and business confidence.