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China’s April data are expected to show continued divergence between strong industry and weak consumption, with retail sales forecast to rise 1.9% year on year versus 1.7% in March, while industrial production is seen accelerating to 6% from 5.7%. Exports rose 14.1%, reinforcing resilience in external demand amid AI investment and energy disruption effects from the Iran war. Economists at Citigroup Inc. describe a widening K-shaped split, with robust manufacturing contrasting sluggish domestic demand, even as trade ties with the US improve following Donald Trump’s visit to Beijing.