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China's key economic indicators in May to show further recovery: analysts

Xinhua | Updated: 2021-06-15 15:16

Tourists visit the Senado Square in South China's Macao, on May 3, 2021, the third day of China's five-day May Day holiday. [Photo/Xinhua]

BEIJING -- China's major economic indicators including consumption and investment are expected to show resilient growth in May, according to market analysts.

The country's consumption will further pick up in May, led by a spending boom during the five-day May Day holiday, said Li Chao, chief economist with Zheshang Securities.

Li expects the consumption growth rate in May to be 12.9 percent year-on-year, with further recovery in the future.

Investments are also expected to maintain fast growth momentum with data pointing to price hikes of raw materials needed for infrastructure projects.

Lian Ping, chief economist at Zhixin Investment Research Institute, said that he expects the country's fixed-asset investment in the first five months to grow at around 18 percent year on year, slightly slower than the growth rate in the first four months due to higher comparison base last May.

The National Bureau of Statistics will release key economic data including retail sales, fixed-asset investment and industrial output on Wednesday.

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