Industrial production growth in China slowed in April

In April, industrial production in China grew by 5.4% year-on-year, the country's national Bureau of Statistics reported. Compared to the March rise by 8.5%, its growth slowed. Economists had expected a less significant slowdown - up to 6.5%. The mining industry recorded an increase in production by 2.9%. Electricity production increased by 3.8%, while the manufacturing industry showed an increase of 5.3%. Growth was also recorded in agriculture, the pharmaceutical industry and in the manufacture of industrial equipment, while the automotive and textile industries indicated a decline in production. According to another April report, retail sales in China increased by 7.2% in annual terms, also slowing growth, compared with a rise of 8.7% a month earlier. Last month, sales of consumer goods, food and electronics increased, while sales of clothing, cars and building materials declined.

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