China’s Waning Economic Recovery Spurs Calls for Stimulus
- Industrial production, retail sales missed forecasts
- Youth unemployment rate surged to record high of 20.4%
China’s economic recovery is losing momentum after an initial burst in consumer and business activity early in the year, prompting calls for more policy stimulus to bolster growth.
Official data Tuesday showed industrial output, retail sales and fixed investment grew at a much slower pace than expected in April. The figures were disappointing even though the low base of comparison from last year, when Shanghai was in lockdown, helped to boost the data.