China continues to experience sluggish economic performance amid the ongoing conflict in the Middle East.
According to the National Bureau of Statistics of China, industrial production in April rose by 4.1% compared to the same month last year, falling short of expectations for a 6.0% increase and the previous month's 5.7% rise. This marks the lowest growth rate since July 2023.
Additionally, retail sales in April increased by only 0.2% year-on-year, significantly below the forecast of a 2.0% rise and the previous month's 1.7% increase. This is the lowest figure since December 2022, when consumer spending last showed a decline.
Fixed asset investment from January to April also saw a decline of 1.6% compared to the same period last year, reversing the previous month's cumulative increase of 1.7%.
These trends reflect the broader economic impact of rising prices due to the Middle East conflict, affecting production, consumption, and investment. Earlier reports released on May 11 indicated that China's consumer price index (CPI) and producer price index (PPI) rose by 1.2% and 2.8%, respectively, compared to the same month last year, significantly exceeding expectations.
However, the urban unemployment rate in April improved slightly to 5.2%, better than the anticipated 5.3% and the previous month's 5.4%.
* This article has been translated by AI.
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