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China’s industrial output slows sharply, retail sales growth hit 16-year low

China's industrial output and retail sales for April slowed sharply, retail sales growth hitting the slowest pace since May 2003, reinforcing expectations that Beijing needs to roll out more stimulus measures to prop up domestic economy as the trade tensions with the US escalates.

Growth in industrial output slowed to 5.4 per cent in April from a year earlier, missing expectation for a growth of 6.5 per cent, pulling back from a 4-1/2 year high of 8.5 per cent in the previous month, data from the National Bureau of Statistics (NBS) showed.

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