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China industrial output rises 8.3% in June, retail sales up 12.1%

Published 07/14/2021, 10:05 PM
Updated 07/14/2021, 10:11 PM
© Reuters. FILE PHOTO: A worker welds a bicycle steel rim at a factory manufacturing sports equipment in Hangzhou, Zhejiang province, China September 2, 2019. China Daily via REUTERS

BEIJING (Reuters) - China's industrial output grew 8.3% in June from a year earlier, slowing from a 8.8% rise in May, official data showed on Thursday.

But the figure was higher than a 7.8% rise forecast in a Reuters poll of analysts.

Retail sales rose 12.1% from a year earlier in June. Analysts had expected an 11.0% increase after May's 12.4% rise.

© Reuters. FILE PHOTO: A worker welds a bicycle steel rim at a factory manufacturing sports equipment in Hangzhou, Zhejiang province, China September 2, 2019. China Daily via REUTERS

Fixed asset investment grew 12.6% in the first six months of the year from the same period a year earlier, versus a forecast 12.1% rise and down from a 15.4% jump in January-May.

China's economy has largely rebounded from the coronavirus hit last year thanks to pent-up demand and robust foreign orders for its exports, but recent data has suggested the recovery is losing some steam with increased raw material costs and supply shortages hurting factory activity.

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