China's industrial production jumps over 6% in May, shows data

China’s main indicators steadied for a second month, a sign that the recovery is in a more stable phase and the economy is rebalancing slowly.

The recovery from the pandemic has been led by a property-fueled construction boom and surging industrial production for export, with consumer spending remaining the weak link — and the key to more sustainable growth. The latest data released Wednesday by the statistics bureau showed a shift toward consumption-driven demand is underway, but at a gradual pace.

Industrial production rose 6.6 per cent in May on a two-year average basis — which strips out the impact of last