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In April, the growth rate of industrial added value slowed to 4.1%, and export delivery value hit a new high for two consecutive months.
** [Caixin]** The impact of the Iran situation on the global supply chain and energy supply may be beginning to show, with China's industrial added value growth rate in April falling short of market expectations. However, export support for industrial production may still be resilient, as the export delivery value for the month reached a nearly four-year high.
Data released by the National Bureau of Statistics on May 18 shows that, after excluding price factors, the actual year-on-year growth of industrial added value above designated size in April was 4.1%, a slowdown of 1.6 percentage points from the previous month. Looking at the month-on-month growth rate, which better reflects the trend, industrial added value in April increased marginally by 0.05%, significantly lower than the 0.23% increase in the previous month, indicating a marginal slowdown in industrial production.