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6/14, 9:02 AM (Source: TeleTrader)
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China's industrial output growth slows to 5% in May

The industrial output of China grew by 5% annually in May, slowing down from 5.4% in the month before and missing expectations, the country's National Bureau of Statistics announced on Friday. This marks the weakest growth rate in 17 years.

Year-to-date, the industrial sector increased by 6%, slightly missing expectations as well and underperforming compared to April, when it added 6.2% in output, the data showed.

State-owned holding companies saw an increase of 3.7% year-over-year, while private industrial companies produced 7.8% more in value. The output of joint-stock enterprises was up by 6.6%, the release noted.

Breaking the News / NI