China reported a drop in retail sales and industrial production in April — far worse than analysts had expected.
Retail sales fell by 11.1% in April from a year ago, more than the 6.1% decline predicted in a Reuters poll.
Industrial production dropped by 2.9% in April from a year ago, in contrast with expectations for a slight increase of 0.4%. The output of mining and utilities businesses grew.
The unemployment rate in China’s 31 largest cities climbed to a new high of 6.7% in April, according to data going back at least to 2018.
Post by: Republic of Turkiye Ministry of Trade