China's factory output resists tariff impact, retail sales disappoint

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The Star 4h ago

China's factory output resists tariff impact, retail sales disappoint - The Star

Quick Summary:

BEIJING: China's factory output slowed in April but showed surprising resilience, a sign that government support measures may have cushioned the impact of a trade war with the U.S.that threatens to derail momentum in the world's second-largest economy.

Commodity sectors also showed signs of weakness with the country's daily crude oil processing rate down 4.9% in April from March, while crude steel output slid 7% month-on-month.

However, Monday's data underscored the shock from U.S.reciprocal tariffs, Xu said, adding "despite the rapid growth in industrial value-added, the export delivery value was nearly stagnant".