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Beijing:
China's industrial output increased by 4.4 percent year-on-year in May, its
second increase in 2020 after posting a growth of 3.9 per cent in April,
figures that suggest a recovery of the country's economy following the impact
of the COVID-19 pandemic.
However, the figure, released by the National Bureau of Statistics (NBS) on Monday, is below analysts' forecasts, which had pointed to growth of about 5 per cent for May, reports Efe news.
Industrial production had plummeted 13.5 per cent year-on-year in the first two months of 2020 and declined by 1.1 per cent in March before growing by 3.9 per cent in April.
The growth of electricity, heat, gas and water production, which are among the three main categories the indicator is divided into, increased by 3.6 per cent year-on-year in May with a slight rise of 0.2 per cent in April. (IANS)