Tokyo | Persistently weak domestic demand is stifling China’s plans to manufacture its way out of the country’s property market-based woes, with exports, which also face headwinds, failing to offset the slump.
Industrial production rose 5.6 per cent year-on-year in May, data from the National Bureau of Statistics showed, down from 6.7 per cent in April. The median estimate from a Reuters poll of analysts forecast a 6 per cent increase. Retail sales were a bright point thanks to a five-day holiday boost.
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Bloomberg and Reuters
Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
