FX.co ★ China unveils disappointing economic data

In April, Chinese industrial production grew at a slower-than-expected pace, which is another sign of slower growth. According to the National Bureau of Statistics of China (NBS), last month the country’s factory output advanced by 6.5% on a yearly basis compared with a 7.6% increase in March.

Analysts surveyed by Reuters had expected a 7.1% increase.

Meanwhile, fixed asset investment rose at an 8.9% rate in January-April. Economists had projected a 9.1% rise. In the January to March period, fixed asset investment increased by 9.2%.

Retail sales jumped by 10.7% from the same period a year ago versus a 10.6% rise expected by analysts and down from a 10.9% increase in the previous month.