China April data show slowing industrial and consumer growth

China's economic growth lost momentum in April, with key indicators for industrial output, retail sales, and investment falling short of expectations, according to official data released Monday. The figures suggest the economy's first-quarter momentum is fading amid persistent domestic demand weakness and external pressures.

The National Bureau of Statistics reported that industrial production grew 4.1% year-on-year in April, a deceleration from 5.7% growth in March. This marked the slowest pace of expansion since July 2023. Retail sales, a key gauge of household consumption, rose just 0.2% last month, cooling sharply from a 1.7% increase in March and registering the weakest gain since December 2022.

The data also showed fixed-asset investment contracted by 1.6% in the first four months of the year, reversing a 1.7% rise in the January-March period. Domestic car sales fell 21.6% in April from a year earlier, extending a decline to a seventh consecutive month.

A bureau spokesperson stated that the Chinese economy had generally maintained steady upward growth momentum during the first four months of the year. However, officials cautioned that the external environment remains...