China industrial production up 9.3% in April

Industrial output in China rose 9.3 percent in April, the National Bureau of Statistics (NBS) said Monday, accelerating from March but below market expectations, underscoring sluggish growth momentum. The April rise was a rebound from an increase of 8.9 percent in March but was still slower than a median forecast of 9.5 percent growth in a poll of nine economists by Dow Jones Newswires. Retail sales were up 12.8 percent year-on-year in April while fixed-asset investment rose 20.6 percent in the first four months of the year, the NBS said in a statement. The figures appear to be a sign that recovery is still uncertain in the world's second-largest economy. China grew at its slowest pace in 13 years in 2012, with gross domestic product expanding 7.8 percent in the face of weakness at home and in key overseas markets. Economic growth rebounded to 7.9 percent in the final quarter of 2012, raising hopes for a recovery, but in the first three months of this year growth slowed to 7.7 percent. The official purchasing managers' index (PMI), a widely watched indicator of the health of the Chinese economy, slowed to 50.6 in April from 50.9 in March. The consumer price index -- a main gauge of inflation -- increased by 2.4 percent last month, lower than the official target of 3.5 percent for 2013 and reflecting subdued domestic demand.