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Prices will need to drop for buyers for them to absorb goods meant for exports, experts warn -- risking deeper deflation in China.

Economists polled by Reuters had been expecting the reading to come in at 2.1% in April.

A downside surprise could be perilous for the market considering the recent spate of bad economic news and the prevailing angst over tariffs.

Gross domestic product was expected to rise at a 0.4% annualized pace in the first quarter, according to the Dow Jones consensus estimate.

Companies slowed hiring sharply in April as they braced against potential impacts from President Donald Trump's tariffs.

Euro zone economy expands by better-than-expected 0.4% in the first quarter

A Reuters poll had projected 0.2% growth from the previous quarter.

Consumer attitude about both the present and near future dimmed again in April.

Shipments from China to the U.S. west coast appear poised to drop sharply in May.

"Higher tariffs will eventually cause higher costs for all our products for the US market," Adidas said in a statement.