China’s economic growth probably peaked in the first quarter and is likely to slow for the remainder of the year, casting doubt on how aggressively the authorities can pursue monetary tightening.
China’s growth accelerated for two straight quarters through the end of March — the first six-month acceleration since 2009. State-directed infrastructure spending and a strong housing market drove a commodity-price rally that fuelled production of steel, coal, and base metals.
But factory output, fixed-asset investment, and retail sales all posted slower growth in April, data showed on Monday, adding to previous signs that the world’s second-largest economy is resuming a deceleration cycle.
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