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On March 9, 2024, citizens of purchasing at a supermarket in Nancin, in Jiangsu Eastern China.
Costfoto | Nurphoto | Gets the image
The growth of retail sales in China slowed down in April, data from the National Statistics Bureau showed on Monday, signaling that consumption remains anxiety for the second largest economy in the world.
Retail sales increased by 5.1% compared to the year earlier in April, analysts of 5.5% increase, according to the Reuters survey. In the previous month, sales increased by 5.9%.
Industrial products increased by 6.1% a year in April, more strongly than analysts’ expectations by 5.5%.
Investments with a fixed asset in the first four months of this year, which include investments in property and infrastructure, increased by 4.0%, which is slightly lower than analysts’ expectations by 4.2% of the Reuters survey.
In April, the unemployment rate based on a city poll decreased to 5.1% in March in April.
The data goes against the background of trading tensions between China and the US
US President Donald Trump posted 145% tariffs on China’s imports that came into force in April. Beijing avenged the tariff in the form of 125% of the US import levies.
Fears of trade retreated after the US and Chinese trade representatives in Switzerland earlier this month, led to lower sets of levies between the two largest economies in the world.
Beijing and Washington agreed to cancel most of the tariffs imposed on each other’s goods for 90 days, which allowed some opportunities for further negotiations to reach a longer transaction.
This has pushed many global investment banks to increase its predictions for China’s economic growth this year, while at the same time analyzing expectations for more active stimulation, since Beijing seeks to reach its goal about 5%.
This is conducting the news. Please check later on the update.
