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ECONOMY

Update: China’s Economy Shows Signs of Slowdown

Several buildings under construction in eastern Beijing in April. Photo: Wu Gang/Caixin
Several buildings under construction in eastern Beijing in April. Photo: Wu Gang/Caixin

China’s economic growth showed signs of losing steam in May as expansion in fixed-asset investment, industrial output and retail sales all trailed analysts’ estimates, government data released on Thursday indicated.

The across-the-board slowdown, which economists say is partly due to the government’s campaign to control corporate and financial sector debt, has raised expectations that the authorities may begin to moderate policy easing especially as the central bank did not raise market interest rates on Thursday in the wake of the U.S. Federal Reserve’s decision overnight to increase its benchmark rate.

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