CXSE - China industrial output rises less than expected to 5.6% Y/Y in April; retail sales jump 18.4%

2023-05-16 01:28:47 ET

• China's industrial production expanded by 5.6% year-on-year in April 2023, missing market forecasts of 10.9%, while accelerating from a 3.9% rise in March.

• It was the 12th straight month of growth in industrial output and the fastest pace since last September, mainly supported by both manufacturing and mining sectors, following the lift of the zero-COVID policy.

• Considering the first four months of the year, industrial production advanced by 3.6% from the same period in 2022. In 2022, industrial production grew by 3.6%.

• Retail sales jumped 18.4%, missing forecasts for a 21.0% increase. It was significantly faster than the 10.6% increase in March and marked the quickest growth since March 2021.

• Fixed asset investment expanded 4.7% in the first four months of 2023 from the same period a year earlier, versus expectations for a 5.5% rise. It grew 5.1% in the January-March period.

• ETFs: ( FXI ), ( KWEB ), ( CQQQ ), ( MCHI ), ( ASHR ), ( YINN ), ( TDF ), ( CHIQ ), ( GXC ), ( EWH ), ( KBA ), ( YANG ), ( CXSE ), ( CAF ), ( CWEB ), ( PGJ ), ( KURE ), ( CHIX ), ( CYB ).

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