In what is one of the most important days on the economic calendar each and every month, China will release industrial production, retail sales and urban fixed asset investment figures for May later this afternoon.
Here’s the state of play.
- In April all three figures disappointed badly. Markets expected industrial production, retail sales and fixed asset investment to increase 6.0%, 10.5% and 13.5% from a year earlier. They printed at 5.9%, 10.0% and 12.0% respectively.
- At 10%, retail sales grew at the slowest annual pace since February 2006 while fixed asset investment slowed to levels last seen in late 2000. Industrial production increased by 5.9% although this remains only 0.1% above the multi-year low struck previously in March.
- As was the case in April, markets are expecting modest improvement in the numbers for May (shown in red on the accompanying chart). Industrial production and retail sales are both tipped to accelerate by 0.1% to 6.0% and 10.1% respectively. Fixed asset investment is expected to remain steady at 12.0%.
Business Insider will have full coverage of the data once it drops at 3.30pm (AEST).