China’s industrial production and retail sales continued to grow in May

By: Trademagazin Date: 2025. 06. 16. 10:50

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China’s industrial output continued to grow in May, but at the slowest pace in six months, while retail sales posted the biggest gain in 15 months, the National Bureau of Statistics in Beijing reported on Monday.

China’s industrial output grew 5.8 percent in May 2025, down from 6.1 percent in April and below market consensus of 5.9 percent. May was the slowest growth rate since November 2024 as U.S. tariffs curbed overseas demand and curbed domestic production.

Manufacturing output growth slowed to 6.2 percent from 6.6 percent in April, while mining output rose 5.7 percent from the previous month, and electricity, heat and gas production grew 2.2 percent from 2.1 percent.

Within the manufacturing sector, 35 of the 41 main industries registered growth, including railway and shipbuilding (14.6 percent), automotive (11.6 percent), and information technology and communications (10.2 percent).

On a monthly basis, industrial production rose 0.61 percent.

In the first five months of the year, industrial production grew 6.3 percent.

China’s retail sales grew 6.4 percent in May 2025, accelerating from 5.1 percent in the previous month and beating market expectations of 5.0 percent.

This was the strongest pace since December 2023, supported by increased holiday spending during the Labor Day and Dragon Boat Festival holidays, as well as Beijing’s efforts to cushion the impact of US tariffs.