Overview

• China's retail sales grew 5.1% in April, below the 5.5% forecast, reflecting ongoing challenges in domestic consumption recovery.
• Industrial output outperformed expectations, rising 6.1% year-on-year, signaling resilience in China's manufacturing sector.
• Fixed-asset investment expanded 4.0% in the first four months, slightly under analysts' predictions of 4.2% growth.
• The urban unemployment rate eased to 5.1% in April, down from 5.2% in March, indicating gradual labor market improvement.
• A 90-day tariff rollback agreement between the U.S. and China has led global banks to raise China's growth forecasts while reducing expectations for further stimulus measures.