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China economy sees across-the-board slowing

CBS News - May 11, 2012

China saw sharper than expected declines in retail and home sales, exports, investment and production in April, dashing predictions of a turnaround in the world's second largest economy.

Although China's industrial production rose 9.3 percent last month, this was down significantly from a nearly 12 percent increase in March and the slowest annual rate in nearly three years.

Exports rose 4.9 percent in April from a year earlier, while imports rose just 0.3 percent, according to data from China's General Administration of Customs. Analysts had been expecting at least a 10 percent growth in imports and 8.5 percent increase in exports.

China's home sales transaction value fell 16 percent in April to $50 billion from $59 billion in March and $51 billion a year earlier, based on the difference between the National Statistics Bureau's data for the first four months of the year and the first quarter. Housing sales value from January to April fell 13.5 percent to from a year earlier.

Read Full Article from CBS News

- Posted: 2012-05-11 12:20:16


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