The China April data is here: China April Industrial Production 9.8% y/y (expected +10%) & Retail Sales 17.7% y/y (expected +25.0%)
Remarks from China's National Bureau of Statistics:
- says China's economy showed steady improvement in April
- foundation for economic recovery not solid
- says new problems in economy emerging
- says China will keep its economic operations within a reasonable range
Some of the data points buried in the headlines are very strong, for example:
- crude steel output hit a record high, as did the output of aluminium