China Industrial Output Rebounds While Consumers Still Wary

Workers stand in front of machines on a yarn production line at the Fujian Strait Textile Technology Co. factory in Putian, Fujian province, on Feb. 8, 2021. Photo: Bloomberg

(Bloomberg) — China’s economy showed a mixed recovery in May, with industrial production unexpectedly increasing while the property market continued to slump and consumer spending declined as Covid restrictions curbed sentiment.

Industrial output rose 0.7% from a year ago, reversing from a drop of 2.9% in April, data from the National Bureau of Statistics (NBS) showed Wednesday. The median estimate in a Bloomberg survey of economists was for a contraction of 0.9%.