Chinese Retail Sales and Industrial Output Rise in May

A slew of data from China on Friday provided fresh signs that the economy is stabilizing, aided by targeted stimulus measures from Beijing.
May retail sales rose 12.5 percent on year, above analyst expectations for a 12.1 percent increase in a Reuters poll and their best performance since December.

Industrial output meanwhile increased 8.8 percent on year in May, in line with market expectations, while fixed asset investment rose 17.2 percent on year for the January-to-May period, just above expectations for a 17.1 percent rise.

“It does look like we are getting a bounce in economic activity, helped by stimulus,” said Bank of Singapore Chief Economist Richard Jerram. “The numbers are not earth shattering but they are reassuring given concerns about China’s real estate market.”
China’s economy grew at annual pace of 7.4 percent in the first quarter, slowing from 7.7 percent in the final quarter of last year.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza