Wednesday, May 18, 2016

Chinese Economy Slowed in April

China's key economic indicators moderated in April from the previous month, official figures showed on Saturday, raising worries over the strength of a rebound in the world's second-largest economy.

Industrial output rose 6.0 percent year-on-year in April, the National Bureau of Statistics said, down from a 6.8 percent jump in March. Economists had estimated a 6.5 percent increase, according to Bloomberg News.

"Industrial production was lower than expectations, indicating that the stabilisation momentum for the economy is not as strong as we imagined," Liao Qun, China economist at Citic Bank International in Hong Kong, told AFP.

"There was a strong economic rebound in March, so there was a bit of a correction in April," he said.

The Chinese economy grew at its slowest quarterly pace in seven years in the first three months of the year, expanding 6.7 percent, though the figure met market expectations and raised hopes it had started to improve.

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