Chinese industrial production increased in May compared to a year earlier, but less than expected. This was revealed on Monday from data from the national statistics office.
Production grew 4.4 percent year-over-year, with economists generally expecting 5 percent growth. According to experts, the figures show that the Chinese economy is able to cautiously focus after the corona crisis, although the figures are still soft.
Furthermore, retail sales declined by 2.8 percent last month. Experts expected a contraction of 2.3 percent here. Slowly improving retail sales underline the fragility of the recovery, while at the same time coronavirus flares up again. For example, ten new residential areas were quarantined in Beijing. In the past 24 hours, 36 new cases of infection have been registered in the metropolis.
Investments fell by 6.3 percent in the first five months of the year, with a decline of 6 percent expected.