China's industrial output rose 3.9% in April from a year earlier, data showed on Friday, expanding for the first time this year as the world's second-largest economy slowly emerged from its coronavirus lockdown.
BEIJING - China’s industrial output rose 3.9% in April from a year earlier, data showed on Friday, expanding for the first time this year as the world’s second-largest economy slowly emerged from its coronavirus lockdown.
After months of lockdowns, China is slowly reopening its economy as the coronavirus outbreak on the mainland has come under control. Louis Kuijs, Head of Asia Economics at Oxford Economics, expects a global recession will weigh on China’s recovery. Producer prices saw their sharpest fall in four years earlier this week, showing weakening industrial demand.
Consumption remained weak with retail sales falling 7.5% in April, faster than a forecast 7.0% decline.
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