China’s government is likely to roll out more supportive policies to stabilize the economy after major activity data for May indicated mounting downward pressure on growth, analysts said.
Production at factories, mines and utilities, rose 5% year-on-year in May, down from a 5.4% pace in April, the National Bureau of Statistics (NBS) reported on Friday. That was the weakest increase since February 2002, when growth was 2.7%, and missed the median forecast of a 5.4% increase in a Bloomberg News survey of economists.