China's April Industrial Output Growth Slows to 4.1% YoY, a Near 3-Year Low

AI Summary (NQ-processed)

China's National Bureau of Statistics reported that in April 2024, the value-added of industrial enterprises above a designated size grew by 4.1% year-on-year, the slowest pace since July 2023. Additionally, total retail sales of consumer goods increased by only 0.2% YoY, the lowest since December 2022. Both figures fell significantly short of market expectations, highlighting persistent weakness in domestic demand.