China’s industrial output rose 5.6% in April from a year earlier, accelerating from a 3.9% gain in March, according to data released by the National Bureau of Labor Statistics on May 16.
The 5.6% increase fell short of the 10.9% gain projected by a Reuters poll of analysts, but it was China’s quickest growth since September 2022. The year-over-year growth is likely due to the contraction China suffered last April when Shanghai was under strict COVID-19 lockdown.
Retail sales grew 18.4%, below expectations of a 21% increase, but significantly faster than March’s 10.6% increase. April marked the fastest retail growth in China since March 2021.
Fixed asset investment increased 4.7% during the first four months of 2023 compared to the same period in 2022, just short of a forecasted 5.5% gain. It grew 5.1% during the January-March period.