Chinese industrial production in June rises 4.4%, retail sales up 3.1%

BEIJING (Reuters) – China’s industrial production rose 4.4% in June from a year earlier, accelerating unexpectedly from the 3.5% seen in May, but demand remains tepid in a context of a bumpy post-COVID economic recovery.

Data released by the National Bureau of Statistics (NBS) on Monday beat expectations for a 2.7% increase in a poll of Reuters analysts.

Retail sales rose 3.1% in June, a slowdown from a 12.7% jump in May. Analysts were expecting growth of 3.2%.

Investments in fixed assets increased by 3.8% in the first six months of 2023 compared to the same period a year earlier, against an expected increase of 3.5%. It increased by 4.0% during the January-May period.

China’s post-pandemic economic recovery has slowed sharply after a rapid start in the first quarter, with the central bank pledging to step up support to boost activity and consumer and business confidence.

(Reporting by Joe Cash, Ella Cao and Ellen Zhang. Editing by Sam Holmes)

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