China’s Economy Is In Decline, Even by Its Official Numbers

Retail sales and industrial production missed expectations while investment moved back into negative territory.

A Chinese woman shops for vegetables at a supermarket in Beijing on May 11, 2026. Wang Zhao/AFP via Getty Images

China’s economy slowed sharply in April, according to official data, adding to pressure on Beijing to introduce stimulus measures to support growth as robust exports failed to offset sluggish domestic consumption.

Retail sales, a measure of consumer spending, rose by just 0.2 percent in April, according to data released by the National Bureau of Statistics on May 18.