Latest data released by the National Bureau of Statistics of China - 10 May 2018
- Prior 2.1%
- PPI 3.4% vs 3.4% y/y expected
- Prior 3.1%
Slight delay in the data release by the source.
That's a softer reading than expected, and a considerable dip compared to the March reading. Given that, it's hard to see China following the Fed in terms of lifting its benchmark rates. Any move in rates will have to still come from the money market side.
