World's 2nd largest economy in shambles? China's investment and output down in April

| Saturday, May 14, 2016 - 12:53
First Published |
China's economy in real shambles?

China's economy in real shambles?

New Delhi: China's investment, factory output and retail sales saw a downfall in the month of April, adding to doubts about whether the world's second-largest economy is stabilizing.
Growth in factory output cooled to 6 % in April, according to the the National Bureau of Statistics (NBS), disappointing analysts who expected it to rise to 6.5 percent on an annual basis after an increase of 6.8 percent the prior month.
Fixed investment by private firms continued to slow, indicating private businesses remain skeptical of economic prospects. Investment by private firms rose 5.2 percent year-on-year in January-April, down from 5.7 percent growth in the first quarter.
Upbeat March data had sparked hopes that China's economy was picking up after more than a year long blitz of fiscal, monetary and administrative stimulus measures. A recovering property market has also boosted demand for raw materials, giving a boost to long ailing heavy industries such as steel mills.

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