The latest data from China paint a mixed picture of the economy. The numbers show upbeat consumption by tourists, but continued sluggishness in real-estate investment.
The National Bureau of Statistics released its key economic data for May on Monday.
A measure of consumer spending, or retail sales, rose 3.7 percent from the same month last year, due in part to strong demand for travel during the holiday period. The pace of expansion was faster than in April.
Meanwhile, industrial output rose 5.6 percent year-on-year. But growth has slowed from the previous month.
Weakness in the property sector remains a cause for concern. Investment in real-estate during the five months to May was down year-on-year by 10.1 percent. And the total amount of floor space sold in new homes was down by 20.3 percent.
A bureau official said the economy is improving but it still has a way to go.
Chinese National Bureau of Statistics spokesperson Liu Aihua said, “The real estate market is going through an adjustment process. It will take more time for the impact of the policies to be felt.”
The government will hold an economic policy meeting known as the third plenary session next month.