Jun. 22 at 11:51 PM
China retail sales expanded +6.4% in May, accelerating from +5.1% in April - fastest pace since Dec 2023 & exceeding all ests. Retail sales benefited from the 618 annual shopping festival. Also boosting consumption was a govt initiative subsidizing home appliance & electronics
China Industrial output grew +5.8%, slower than the +6.1% gain in April
China Fixed-asset investment expanded +3.7% in the first 5 months, moderating from +4% in the Jan-Apr period
China Jobless rate improved slightly to 5% from 5.1% in April
China’s finance regulators will release major financial policies during the Lujiazui forum starting Wednesday. China plans to allocate CNY500B of capital that could be leveraged up to fast track new infrastructure projects.
In May, the PBOC cut its policy rate & the reserve requirement ratio.
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