China’s Economic Indicators Ticked Up in May, Official Data Shows

China’s Economic Indicators Ticked Up in May, Official Data Shows

Xu Wei

Date: Thu, 06/14/2018 - 18:45 / source:Yicai
China’s Economic Indicators Ticked Up in May, Official Data Shows
China’s Economic Indicators Ticked Up in May, Official Data Shows

(Yicai Global) June 14 -- China’s economic indicators grew steadily in May, with demand for production remaining stable, improved employment and a moderate rise in prices, according to the National Bureau of Statistics.

The value-added by large industrial enterprises increased 6.8 percent in real terms compared with the same month last year, 0.2 point slower than April, the bureau said online today. Retail sales of consumer goods tallied CNY3 trillion (USD470 billion), up 8.5 percent on the year but rising 0.9 point slower than the previous month.

Fixed asset investment, excluding farmers, totaled CNY21.6 billion (USD3.4 billion) through the first five months, up 6.1 percent on the year but also 0.9 point slower than the first four months.

The indicators reflect slowed demand, NBS spokesman Mao Shengyong said at a press briefing the same day, pointing out fixed asset investment and consumer goods sales. But China’s economy as a whole is developing steadily, and there is a trend of promising developed, he added.

Editor: James Boynton

 

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Keywords: NBS, Retail, investment, Economy