China's Industrial Production Up 4.5% in March...Below Expectations (Update)

China's industrial production in March increased by 4.5% year-on-year, according to the National Bureau of Statistics of China on the 16th.

This figure is below both the market forecast (5.4%) and the previous month's figure (January-February, 7.0%). Industrial production aggregates the total output of factories, mines, and public facilities, reflecting manufacturing trends. It is also used as a leading indicator for employment and average income.

[Image source=Reuters Yonhap News]

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Domestic consumption also showed a sluggish trend. Retail sales in China for March increased by only 3.1% year-on-year, falling short of both the forecast (5.1%) and the previous month's figure (January-February, 5.5%).

The unemployment rate improved slightly to 5.2% from 5.3% in the previous month and met expectations.

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