China May industrial output up 6.1% on-year

GMT 08:04 2015 Thursday ,11 June

Arab Today, arab today China May industrial output up 6.1% on-year

Workers produce clothes at a factory
Beijing - AFP

China's industrial production, which measures output at factories, workshops and mines in the world's second-largest economy, rose 6.1 percent year-on-year in May, the government said on Thursday.

Retail sales, a key indicator of consumer spending, increased 10.1 percent in the same month, the National Bureau of Statistics said.

And fixed asset investment, a measure of government spending on infrastructure, expanded 11.4 percent on-year in the January-May period, the NBS said.

The industrial output figure came in at a three-month high and was marginally above the 6.0 percent median forecast in a poll by Bloomberg News.

The retail sales result matched the median forecast of 10.1 percent.

The data came as China's economy has continued to slow in 2015 after growing at its weakest pace -- 7.4 percent -- in nearly a quarter century last year. In the first three months of this year gross domestic product (GDP) expanded 7.0 percent in January-March, the worst quarterly result in six years.

China's authorities are trying to engineer a controlled slowdown as they seek to transform the country's growth model to one whereby consumer spending becomes the key driver as opposed to heavy infrastructure investment.

But they fear too fast a deceleration and have carried out stimulatory measures including interest rate cuts to help ensure the slowdown doesn't get out of hand.

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