BEIJING, May 20 Reuters China39;s fiscal revenue slipped 2.7 in the first four months of 2024 from a year earlier, after a 2.3 slide in the JanuaryMarch period, in a further sign of an uneven economic recovery.

Fiscal expenditure rose 3.5 in the first four months, versus a 2.9 gain in the first quarter, according to finance ministry data released on Monday.

For April alone, fiscal revenue fell 3.7 against a 2.4 decline in March, while fiscal spending was up 6.1, compared with March39;s 2.9 fall, according to Reuters39; calculations based on the ministry data.

Excluding factors such as last year39;s high base and tax cut policies, fiscal revenue in the first four months grew 2, the ministry said in a statement.

China has set an ambitious economic growth target of around 5 for this year, which many analysts say will be a challenge to meet as prolonged weakness in the property sector and tepid consumer demand remain a drag on the economy.

Factory output topped forecasts in April, helped by improving external demand, but retail sales unexpectedly slowed and the property sector remained a key drag on the economy, piling pressure on Beijing to do more to support growth.

The expansion of outstanding total social financing TSF, a broad measure of credit and liquidity, hit a record low of 8.3 in April, amid lagging government bond issuance.

China on Friday unveiled historic property easing measures and the finance ministry kicked off the issuance of 1 trillion yuan in…