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China's Economic Recovery Stumbles as Industrial Output Disappoints | OilPrice.com

China's Economic Recovery Stumbles as Industrial Output Disappoints | OilPrice.com
China's economic recovery faces headwinds as industrial production misses expectations, while retail sales and steel output offer mixed signals.

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China's economy is showing signs of struggle as industrial production in May increased by 5.6% compared to the previous year, falling short of analysts' expectations. Retail sales, however, rose by 3.7% year-on-year. Despite this, iron ore and copper prices dropped following the release of the economic figures. Private sector investment remains sluggish, growing only by 0.1% year-on-year, indicating weak confidence among private businesses. The real estate market in China continues to struggle, with new home prices falling by nearly 4% in May compared to the previous year. In contrast, steel production increased in May, reaching its highest monthly figure since March 2023. Overall, the economic data paints a downbeat picture, highlighting the bumpy recovery trajectory for China's economy.

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