China’s Recovery Weakens as Industrial, Retail Activity Slow
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China’s economic recovery weakened in May as growth in industrial output and retail sales slowed, putting pressure on policymakers to step up stimulus.
The figures came after the People’s Bank of China cut the interest rate on its one-year policy loans by 10 basis points to 2.65% to stimulate the economy. The central bank reduced its short-term rates earlier this week.