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China May retail sales grow at fastest pace since December 2023; industrial output misses expectations
China’s retail sales in May grew at their fastest rate since late 2023, data from National Bureau of Statistics showed Monday, in part helped by Labor Day and Dragon Boat holidays. Retail sales last month jumped 6.4% from a year earlier, sharply beating analysts’ estimates for a 5% growth in a Reuters poll and rising from the 5.1% growth in the previous month. Growth in industrial output slowed to 5.8% year on year in May from 6.1% in the prior month. The latest reading came in slightly weaker than analysts’ expectations for a 5.9% rise. Fixed-asset investment, reported on a year-to-date basis, expanded 3.7% as ... (full story)
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