The economic recovery in China after the lift of zero-covid policy has been quite uneven in the first four months of this year as the economic data for April broadly missed economist expectations.
According to the data released on Tuesday, industrial production for April increased 5.6% from last year, but fell short of expectations for a 10.9% rise by a Reuters poll. It was up 3.9% in March.
Meanwhile, retail sales also missed expectations for a 21% increase with an actual number of 18.4%.
Fixed asset investment edged 4.7% higher, but lower than 5.5% expectations and also a 5.1% rise in the previous month.
The Caixin China general manufacturing purchasing managers’ index for April, which reported earlier this month, also fell below the separate line of growth and contraction for the first time this year with a reading of 49.5.
The Caixin/S&P Global services purchasing managers’ index remained positive in April with a reading of 56.4, but fell from 57.8 in March.