China's retail sales rise 8.5% YoY, industrial output up 6.8% YoY

Economy 6/14/2018, 4:25 AM
China's retail sales rise 8.5% YoY, industrial output up 6.8% YoY

Retail sales in China stood rose 8.5% year-over-year in May, according to a release by the country's National Bureau of Statistics on Thursday. The observed data was lower than expected, and down compared to the previous month's figure of 9.4%. Year-to-date rise stood at 9.5%, showing a 0.2% change compared to the prior figure of 9.7%.

National Bureau of Statistics of China stated that the slowdown in May's retail sales growth was caused by delayed consumption, as well as seasonal factors.

Industrial production was up 6.8% on an annual basis, marking a slightly weaker increase compared to the previous month's rise of 7% year-on-year. Looking at year-to-date activity data, industrial output rose 6.9%, unchanged compared to last month's reading.

Breaking the News / BM

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