BEIJING — Chinese retail sales picked up in May, but industrial production growth slowed, official data showed on Monday, suggesting the recovery in the world's second-largest economy remains uneven.Leaders have struggled to kick-start growth since an initial burst followed the end in late 2022 of stringent Covid measures that had hammered businesses and consumer activity, while a property crisis and high unemployment have dented investor confidence.
An employee works on a production line at a car wheel rim factory in Qingzhou, in eastern China’s Shandong province on June 17, 2024. China’s industrial production slowed down while its retail sales increased in May, according to the National Bureau of Statistics. AFP PHOTOThe figure was also higher than the 3.0 percent increase predicted in a Bloomberg survey of analysts.