China's industrial production growth in May significantly slowed, falling short of expectations. However, retail sales outperformed analysts' predictions.
The industrial sector saw a modest year-over-year increase of 5.6%, down from April's 6.7%, according to official statistics released Monday. Analysts had anticipated a smaller decline to 6.2%.
Investment in non-agricultural sectors grew by 4.0% in the first five months, a slight decrease from the 4.2% growth recorded through April. Experts had expected the previous growth rate to continue.
In contrast, retail sales were a bright spot, rising by 3.7% in May, exceeding April's 2.3% increase. Analysts had forecasted only a 3.0% rise.