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16h ago

China's Economy Slows in April Despite Tariff Truce

Industrial output exceeded expectations but slowed from March, while retail sales and property prices highlighted persistent economic challenges.

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Residential buildings are pictured near a construction site in Beijing, China April 14, 2022. Picture taken April 14, 2022. REUTERS/Tingshu Wang/ File Photo
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Overview

  • China's industrial production grew 6.1% in April, down from 7.7% in March, but surpassed forecasts of 5.5%, reflecting resilience despite trade pressures.
  • Retail sales growth slowed to 5.1%, missing expectations and signaling consumer caution as the property market slump continues to weigh on household confidence.
  • New-home prices in 70 cities fell 0.12% in April, with used-home prices dropping 0.41%, extending the prolonged downturn in China's real estate sector.
  • The 90-day tariff truce between the U.S. and China, announced last week, rolled back most of the 145% tariffs imposed since early April, offering temporary relief to trade tensions.
  • China's policymakers introduced stimulus measures, including rate cuts and liquidity injections, to stabilize growth and counteract the economic impact of the trade war.