China April Activity Data Missed Expectations

China's April economic data broadly missed expectations, with significant deceleration in industrial production, retail sales, and a sharp contraction in single-month fixed asset investment.

Key Takeaways

• 1.China's economic activity data for April broadly missed market expectations, showing a significant slowdown from March across production, investment, and consumption.
• 2.Industrial Production (IP) growth decelerated to 4.1% yoy, significantly lower than the consensus forecast of 6.0%.
• 3.Fixed Asset Investment (FAI) experienced a sharp single-month contraction of -8.2% yoy, likely impacted by weak credit demand and weather conditions.

Table of Contents

• Bottom line:
• Asia-MAP scores:
• Key numbers:
• Surveyed unemployment rates:
• The China Economics Team
• Disclosure Appendix

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