BEIJING : China's economy stumbled in May, data showed on Thursday, with industrial output and retail sales growth both missing forecasts, adding to expectations that Beijing will have to quickly ramp up stimulus to shore up a shaky pandemic recovery.A first-quarter economic rebound has lost momentum in t
BEIJING : China's economy stumbled in May, data showed on Thursday, with industrial output and retail sales growth both missing forecasts, adding to expectations that Beijing will have to quickly ramp up stimulus to shore up a shaky pandemic recovery.
Retail sales - a key gauge of consumer confidence - rose 12.7 per cent, missing forecasts of 13.6 per cent growth and slowing from April's 18.4 per cent. It also reinforces the case for more stimulus as policymakers face deflationary risks, mounting local government debts, record youth unemployment and weakening global demand.
Investment in the property sector fell 7.2 per cent in January-May from the same period a year earlier, after declining 6.2 per cent in January-April.
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