News Snapshot:
BEIJING (dpa-AFX) - China's industrial production declined unexpectedly in April reflecting not only the disruption caused by the Covid-19 lockdown, but also weaker foreign demand. Further, the decrease in retail sales worsened on weak household consumption. Industrial production dropped 2.9 percent on a yearly basis, reversing a 5.0 percent fall in March, data published by the National Bureau of Statistics showed on Monday. The decline confounded 0.4 percent rise economists had expected. At the same time, retail sales plunged 11.1 percent annually, much worse than the 3.5 percent decrease in March. Economists had forecast a 6.1 percent fall. Official data...
