The jobless rate for the 16-24 age group in China hit a record high in April, data released on Tuesday showed, while retail sales and industrial production also fell short of expectations last month.
Markets in the Asia-Pacific zone grind lower as fears of the US default joins downbeat China data during Tuesday’s sluggish session. While portraying
China's industrial production and retail sales expanded at faster rates in April but both missed expectations signaling that monetary policy easing might be needed to regain the strength experienced after the scrapping of zero-Covid policy.
European stocks closed lower on Tuesday with investors digesting the latest batch of economic data from Europe, China and the U.S., and closely following the U.S.
China's economy rebounded at a faster than expected pace in the first quarter on robust consumption and industrial production, thanks to the lifting of zero-Covid policy.