China's economy showed mixed performance in May, with property investment declining while consumer spending slightly increased compared to the previous year. The National Bureau of Statistics data revealed challenges for the country's economy, as leaders aim to meet the 2024 growth target of around 5% during the post-pandemic recovery. Property investment fell in the first five months of 2024, and Beijing announced measures to rescue the struggling property sector. Retail sales growth rose by more than 3% year-on-year in May, exceeding expectations. Analysts suggest reaching its GDP target for 2024 without additional policy measures may be 'a bit difficult.'
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00:00It's Benzinga, and here's what's on the block.
00:02China's economy showed mixed performance in May with property investment continuing to
00:06decline while consumer spending slightly increased compared to the previous year.
00:11The National Bureau of Statistics data revealed challengers for the country's economy
00:15as leaders aimed to meet the 2024 growth target of around 5% during the post-pandemic recovery.
00:21Property investment fell in the first five months of 2024,
00:24and Beijing announced measures to rescue the struggling property sector.
00:28Retail sales growth rose by more than 3% year-over-year in May, exceeding expectations.
00:33Analysts suggest reaching its GDP target for 2024 without additional policy measures
00:38may be a bit difficult. For all things money, visit Benzinga.com.