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Retail sales, industrial output jump in May

(Agencies)
Updated: 2009-06-12 11:31

BEIJING -- China's retail sales and industrial output grew strongly in May amid heavy stimulus spending, data showed Friday, in a positive sign for efforts to boost economic growth despite a collapse in trade.

Related readings:  China's retail sales up 15.2% in May  April retail sales slip 6.9% year-on-year  Retail sales jump, factory output slows  US retail sales fall in April, dent recovery hope  China's retail sales up 15% in Q1

Retail sales rose 15.2 percent from the same month last year, up from April's 14.8 percent rate, the National Bureau of Statistics reported. Industrial output expanded by 8.9 percent, rebounding from April's lackluster 7.3 percent and exceeding March's 8.3 percent rate.

The Chinese government is trying to shield the country from the global downturn by injecting money into the economy through heavy spending on construction projects. That has helped to revive demand for industrial goods.

Analysts say relatively strong consumer spending also is a positive sign for growth.

The government reported Thursday that May trade plunged by a record margin but domestic investment soared by 32.9 percent in the first five months of the year, boosted by stimulus spending.