(REUTERS) China's economic growth lost momentum in April with factory output and retail sales undershooting expectations as the world's second-largest economy faced higher energy costs from the Iran war and continued weakness in domestic demand.

"From January to April, the national economy maintained a trend of steady progress, and high-quality development advanced solidly," said Fu Linghui, a spokesperson for the country's National Bureau of Statistics (NBS) during a news conference on Monday (May 18).

"However, it should also be noted that the external environment remains complex and volatile, domestic demand remains relatively weak, some enterprises face operating difficulties, and the foundation for stable and positive economic growth still needs to be consolidated."

The April figures offered early signs that China's first-quarter momentum was already fading and came after U.S. President Donald Trump finished his state visit to China.

The summit delivered few surprises even as it helped ease tense relations between the world's two biggest economies. China and the United States have agreed to expand agricultural trade through tariff reductions and tackle non-tariff barriers and market access issues, but substantive progress across trade and investment remained elusive.

Posted by: AAngeles/NET25 News