China’s March industrial output rises 3.9%; retail sales up 10.6%

BEIJING  – China’s industrial output rose 3.9 percent in March year-on-year, official data showed on Tuesday, accelerating from a 2.4-percent increase in the first two months but missing expectations slightly amid a post-COVID economic recovery.

Retail sales rose 10.6 percent, beating forecasts for a 7.4-percent increase by a large margin. It was also faster than the 3.5 percent increase in January-February.

Fixed asset investment in January-March slowed to 5.1 percent growth year-on-year, versus expectations for a 5.7-percent increase. It grew 5.5 percent in the January-February period.

Chinese policymakers have pledged to step up support for the world’s second-largest economy this year after dismantling COVID-19 curbs in December.