Economics
China Slowdown Shows Debt Addiction Will Be Tough to Shake
- Industrial output, retail, investment all missed estimates
- PBOC seeks to reassure it will still support the economy
China's Slowdown Grinds on Following Weak April Data
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China’s run of disappointing April data underscore the bind facing policy makers seeking to cut capacity from the worst-performing sectors and curb credit excesses in recovering ones without stalling the economy.
Bloomberg’s monthly gross domestic product tracker shows growth slowed to 6.88 percent in April, from 7.11 percent in March. Weak steel and coal output dragged on industrial production, which increased 6 percent from a year earlier versus economists’ forecasts of 6.5 percent, while retail and investment readings also disappointed, according to reports released on Saturday. A day earlier, data showed a slump in new credit last month.