China retail sales, industrial output, fixed asset investment in May

Retail sales in China have grown in May at the fastest rate since late 2023, and data from the National Statistics Office showed partially, with the help of extending workers’ day and dragon boats.

Retail sales last month 6.4 % jumped from the previous year, Sharp estimates 5.1 % growth in the previous month.

Growth in industrial product Summary to 5.8 % on an annual basis In May of 6.1 % in the previous month. The last reading came slightly weaker than analysts’ expectations for a 5.9 % increase.

Fixed asset investment, was reported on a general basis, 3.7 % expanded this year from May By previous year, Reuters expectations of 3.9 % growth and slow down 4 % growth in the first four months.

Within the investment of fixed assets, the contraction in real estate investment deepened, and decreased by 10.7 % in the first five months, Government data showed.

The urban survey -based unemployment rate in May was 5.0 %, which reduces 5.1 % in April to the lowest level since November last year.

“The rise in retail sales was a surprise,” said Zeoye Zhang, the president and chief economist in asset management.

A Separate version Monday by NBS The prices of new homes in the first -class cities showed the richest decrease, as they decreased by 1.7 % in May last year, while the cities of the 2 and category 3 decreased by 3.5 % and 4.9 %, respectively.

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.