China’s Economic Momentum Weakens Despite Meeting 5% Growth Goal

China’s economy lost more momentum last quarter even as it met the government’s target in 2025, in another year of lopsided growth that will be hard to sustain in an era of protectionism around the world.

While industrial production held up well in December, retail sales and investment worsened more than forecast. The world’s second-largest economy expanded 4.5% last quarter from a year earlier, the slowest pace since the reopening from Covid lockdowns in late 2022.

For the full year, gross domestic product rose 5%, according to data released by the National Bureau of Statistics on Monday, confirming an estimate ...