China's Industrial Growth Slows As Property Slump Persists

China: China's industrial output for May grew by 5.6% year-on-year, falling short of expectations and slowing from April's 6.7% growth, while the property sector remains sluggish despite policy support.

Retail sales in May, however, saw a 3.7% increase, boosted by a holiday period. Manufacturing investment showed robust growth, driven by technological innovation, but private sector investment remains weak, and the property market continues to drag on economic activity.

Analysts call for more fiscal and monetary support to address these economic challenges. The government has implemented various measures to assist homebuyers, such as easing mortgage rules, but domestic demand remains weak and consumer confidence low amid the prolonged property crisis.

Additionally, new bank lending rebounded less than expected in May, with some key monetary indicators hitting record lows.

Source: Jakarta Post