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China economy stays weak in April, statistics show
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CHINA'S economic activity data showed little improvement in April, indicating continued weakness in the economy, the National Bureau of Statistics said today.
Industrial production expanded 5.9 percent from a year earlier last month, up from the pace of 5.6 percent in March but lower than the market expectation.
Retail sales rose 10 percent in April, moderating from the increase of 10.2 percent a month ago.
Fixed-asset investment added 12 percent in the first four months, weakening from the gain of 13.5 percent in the first quarter.
"The data set suggests that growth during the first month of the second quarter could have slowed further to below 7 percent," said Zhou Hao, an economist at Australia & New Zealand Banking Group Ltd. "Thus, more growth stabilization policies could be expected to be rolled out."
The central bank announced on Sunday an interest rate cut, which was the third in the past six months, to bolster market liquidity and sustain the economic growth.
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