China's industrial production declined unexpectedly in April reflecting not only the disruption caused by the Covid-19 lockdown, but also weaker foreign demand. Further, the decrease in retail sales worsened on weak household consumption.
Industrial production dropped 2.9 percent on a yearly basis, reversing a 5.0 percent fall in March, data published by the National Bureau of Statistics showed on Monday. The decline confounded 0.4 percent rise economists had expected.
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by Renju Jaya
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