FXStreet (Mumbai) – The official data released in China on Thursday showed the industrial production rose 6.1% year-on-year in May, beating the estimate of a 6.0% rise. The previous month’s figure stands unrevised at 5.9%.
Retail sales matched expectations to rise 10.1% in May from 10.0% seen in April. Meanwhile, Urban investment growth slowed to 1..4% year-on-year, compared to the previous figure of 12%.
The rise in output and retail sales contradicts inflation and trade data released earlier this week, which had shown a sluggish domestic environment. The uptick in consumption may be enough to keep the PBOC on the sidelines as it w aits to see the impact of interest-rate cuts and loosened fiscal policy.
(Market News Provided by FXstreet)