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China’s Economy Shows Mixed Recovery With Consumers Under Strain

  • May industrial output unexpectedly gains, retail sales falls
  • Rebound likely to be bumpy as Beijing sticks with Covid Zero
Bloomberg business news
WATCH: Robin Xing of Morgan Stanley discusses China’s retail sales, industrial output and fixed-asset investment data.Source: Bloomberg
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China’s economy had a mixed recovery in May as Covid restrictions gradually eased, with industrial production unexpectedly increasing while consumer spending and the property market continuing to contract.

Industrial output rose 0.7% from a year ago, the National Bureau of Statistics said Wednesday, while the almost 7% contraction in retail sales was better than the plunge in the previous month. Fixed-asset investment grew 6.2% in the first five months of the year and the surveyed jobless rate fell.