The Chinese economy maintained a steady recovery in April, as production and demand continued to grow while employment and price level generally stable, the National Bureau of Statistics said in a statement today. The country’s industrial output rose 9.0% yoy in April, in line with market forecasts, while retail sales growth eased to a four-month low. Meantime, fixed-asset investment went up by 19.9% yoy in January to April, above consensus of 19%. The surveyed urban jobless rate came in at 5.1% in April, compared with 5.3% in March. Despite improvements, the NBS said the foundation of recovery is “not yet solid” with new problems emerging, while the global situation of the COVID-19 is still complicated and the world’s recovery remains uneven.
