China’s retail sales, industrial product, investment of fixed assets for the month of May

Data from the National Statistics Office on Monday showed partially the retail data in China helped in May.

Retail sales jumped last month by 6.4 % from the previous year, severely overcoming analysts to obtain 5 % growth in a Reuters poll and 5.1 % increase in the previous month.

The growth in industrial product slowed up to 5.8 % on an annual basis in May, which is slightly weaker than analysts’ expectations for a 5.9 % altitude.

A The tariff deal that Beijing and Washington reached In mid -May, he gave a temporary comfort to the country’s exports, prompting some companies to the front shipping while doubling alternative markets. Both sides hit a 90 -day truce for most of the three -numbers that were added to each other in early April.

Trade Minister Howard Lootnick told CNBC last week The American definitions of Chinese imports will remain at its current level of 55 %.

China Exports grew less than expected in MayDespite the rise in shipments to Southeast Asian countries, European Union and Africa countries helped compensate for the sharp decline in the goods related to the United States. China’s exports to the United States decreased by more than 34 % from last year, and more severe since February 2020.

Trade data in the past two months have indicated flexibility in China’s exports, according to Goldman Sachs, where “the difficulty of bilateral tariffs to reduce the total Chinese exports has highlighted.”

Slow local demand holds a more urgent issue for Chinese policy makers. Consumer prices have witnessed a decrease on an annual basis For four consecutive months, 0.1 % fell in May. The shrinkage was also deepened in the prices of the factory or products, as it decreased by 3.3 % from last year.

However, Beijing may feel less urgent in offering additional reduction steps as exports appear more flexible than expected and GDP growth exceeds 5 % in the first half of the year.

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