China’s economic data paints a mixed picture for the first 2 months of the year. Retail sales picked up pace, but real estate investment dropped sharply.
The National Bureau of Statistics says retail sales rose a total 4 percent in January and February from the same period the year before. The figure was up 0.3 percentage points from December.
Sales benefited from government incentives to trade in household appliances for new ones.
Industrial production for the combined 2 months grew 5.9 percent year-on-year, a slower pace than the 6.2 percent in December.
However, investment in real estate development sank 9.8 percent, showing the property slump remains a drag on demand in the world’s second largest economy.