China May retail sales +8.6% vs +8.1% y/y expected
Chinese retail sales data for May is released - 14 June 2019
- Prior +7.2%
- Retail sales YTD +8.1% vs +8.0% y/y expected
- Prior +8.0%
There's mixed readings in the China data today with industrial activity seen slowing further but retail sales is showing a bounce, highlighting improved consumption activity and possibly domestic demand.
That said, fixed asset investment also fell from +6.1% y/y in April to just +5.6% y/y in May so on the balance of things, I'd say the overall readings here are a tad on the softer side. This will certainly feed into worries surrounding the slowdown in the Chinese economy this year and investors will surely want local authorities to do more to bolster sentiment/confidence.