China’s economy shows signs of weakness in May

China's economy exhibited signs of weakness in May, with retail sales declining for the first time in over three years and fixed asset investment experiencing a deepening slump. The National Bureau of Statistics reported on May 17, 2024, that retail sales fell by 2.3% year-on-year in April, a reversal from the 2.4% growth seen in March. This marks the first contraction since August 2020, indicating a significant slowdown in consumer spending. Fixed asset investment also showed a concerning trend, with growth slowing to 4.5% in the first four months of the year, down from 4.7% in the January-March period. Industrial production, while still expanding, also saw its pace moderate. These figures suggest that despite government efforts to stimulate the economy, challenges persist in key sectors.