May data points to economic slowdown
Industrial output, retail sales growth miss expectations
Youth jobless rate hits record high
Property investment decline deepens
PBOC cuts key rates to revive demand

BEIJING, June 15 Reuters China39;s economy stumbled in May with industrial output and retail sales growth missing forecasts, adding to expectations that Beijing will need to do more to shore up a shaky postpandemic recovery.

The economic rebound seen earlier this year has lost momentum in the second quarter, prompting China39;s central bank this week to cut some key interest rates, with expectations of more to come.

Industrial output grew 3.5 in May from a year earlier, the National Bureau of Statistics NBS said on Thursday, slower than the 5.6 expansion in April and slightly below a 3.6 increase expected by analysts in a Reuters poll, as manufacturers struggle with weak demand at home and abroad.

Retail sales a key gauge of consumer confidence rose 12.7, missing forecasts of 13.6 growth and slowing from April39;s 18.4.

All the data points so far sent consistent signals that the economic momentum is weakening, said Zhiwei Zhang, president of Pinpoint Asset Management.

Data ranging from factory surveys and trade to loan growth and home sales have shown signs of weakness for the world39;s secondbiggest economy. Crude steel output extended both yearonyear and monthonmonth falls in May while daily coal output fell from April too, NBS figures showed.

The soft…