China’s Bet on Manufacturing Ups Risks From Trade Battle With US
- Industrial output fuels two-speed recovery while retail lags
- Exports-driven growth threatened by mounting trade tensions
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China’s economic recovery tilted even further toward manufacturing, leaving it more vulnerable to trade barriers and highlighting the stakes of a new bid to shore up domestic demand.
Growth in consumer spending unexpectedly cooled to 2.3% in April, the slowest pace since 2022, while industrial output rose from a month ago to a faster-than-expected 6.7%, the National Bureau of Statistics said Friday.