Business

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

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.

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.