China Retail sales for April: 7.2% y/y (expected 8.6%)
Industrial production, retails sales, and investment figures make up China's monthly 'activity' data.
7.2 % y/y for a big miss
- expected 8.6%, prior 8.7%
8.0 % YTD y/y
- expected 8.4%, prior 8.3%
Retails sales growth the slowest since May 2003. China is looking to stimulate domestic demand given exports are under threat from the trade war. If this retail sales data is anything to go by there is much work to be done.
The IP data was no better, a huge miss there also:
more to come
Previews for background:
- China 'activity' data coming up - industrial production, retail sales, and more
- Coming up from China on Wednesday - data for industrial production and retail sales