What China slowdown? Alibaba’s sales soar
China’s vast economy showed new signs of weakness last month, raising the likelihood of increased government efforts to stimulate growth as its trade war with the US escalates.
Key indicators of economic activity, like industrial output and retail sales, cooled significantly last month, according to government figures released Wednesday.
Chinese industrial output grew 5.4% in April compared to the previous year, significantly lower than the 6.2% to 6.5% analysts had expected.
It was also a sharp dip from last month, when growth came in at 8.5%.
The trade war remains one of the biggest risks to China’s economy, with tariffs expected to hurt economic growth on both sides.
And if tensions continue to escalate, experts say that will only put more pressure on Beijing.
Katrina Ell, an economist at Moody’s Analytics, said:
The task before Beijing to stabilize domestic demand amidst slower global growth and a festering trade war is not easy.”