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May retail, industrial production, fixed asset investment

New energy vehicles, which include hybrid and battery-powered cars, have seen sales surge in China despite a slump in the overall car market. Pictured here is an unnamed new energy vehicle factory in Jiangsu province on June 13, 2022.

Wan Shanchao | Visual China Group | Getty Images

BEIJING — China released economic data for May that topped muted expectations for a month hampered by Covid controls.

Industrial production rose mildly by 0.7% in May from a year ago, versus an expected 0.7% drop, according to analysts polled by Reuters. In April, industrial production unexpectedly fell, down by 2.9% year-on-year.

Retail sales fell less than expected, down by 6.7% in May from a year ago. Retail sales were estimated to have declined by 7.1% in May from a year ago, according to the Reuters poll. In April, retail sales fell by 11.1% from a year ago.

Fixed asset investment for the January to May period rose by 6.2%, topping expectations of 6%…

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