The News
New data showed China’s economy exhibited surprising resilience in the early weeks of its trade war with the US, although slowing consumption highlighted the challenges facing Beijing.
Industrial output outperformed analysts’ expectations, but retail sales and fixed-asset investment were below forecasts and an index of nationwide property prices fell, figures that ING’s China chief economist characterized as “a bit of a mixed bag, showing an overall moderation of growth as the tariff escalations shook global markets.”
China’s leaders have made boosting consumption a key part of efforts to reorient the economy away from a dependence on exports, trying to re-enthuse shoppers who are put off by high unemployment, dizzying levels of debt, and the prospect of deflation.
