China's Industrial Output Rises 5.4% in Jan-May 2026; May Up 4.5%

China's value-added industrial output rose 5.4% year on year in the first five months of 2026, with May output up 4.5% from a year earlier and 0.4% from April. According to RTHK, National Bureau of Statistics data showed May value-added output rose 2.3% in mining, 4.4% in manufacturing, and 7.6% in electricity, heat, gas and water production and supply. Retail sales increased 2.8% year on year in the first five months of 2026, while fixed-asset investment fell 4.1% in the first five months of 2025 after a 1.6% contraction in January-April. China's surveyed urban unemployment rate stood at 5.1% in May, down 0.1 percentage points from the previous month. An NBS spokesperson said China has ample policy space and tools to ensure stable growth and that the economic trend remains steady into the second quarter even as some indicators decline and some firms face difficulties. The bureau said it will continue monitoring the impact of global energy prices on domestic prices.