China's National Bureau of Statistics announced Wednesday that industrial value-added above April increased by 5.4% year-on-year, less than the median estimated by Reuters survey of 6.5%. Total retail sales of social consumer goods increased by 7.2% year-on-year and the median estimated by Reuters survey of 8.6%. According to Reuters estimates, consumption growth in April was the lowest since May 2003, when it was 4.3%.
From January to April, the investment in fixed assets increased by 6.1% year-on-year, which was also lower than the median estimated value of 6.4% in Reuters'survey. During the period, private investment in fixed assets increased by 5.5% year-on-year. Industrial, investment and retail sales rose by 0.37%, 0.45% and 0.47% respectively in April.
In addition, the unemployment rate in the national urban survey was 5% in April, which was lower than the expected annual target of about 5.5% and 5.2% in the previous month. The unemployment rate in 31 major cities was 5%, which was also lower than 5.1% in the previous month.
According to the Bureau of Statistics, China's economy continued its overall steady and progressive development trend in April, but the external environment remained intricate, the problem of insufficient domestic development remained prominent, and the basis for sustained and healthy economic development still needed to be consolidated.
The following are details of the year-on-year changes in China's industry, consumption and investment in April (%):
Real Value Prediction Median Pre-Value Prediction Interval for the same period last year
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