Chinese Economy Likely Rebounded In May-Yicai

The Chinese economy likely rebounded in May as declines in industrial output and consumption narrowed, Yicai.com reported citing economists. Economists surveyed by Yicai expected industrial output fell 0.49% y/y in May, compared to the 2.9% decline in April, as power consumption by industrial enterprises in Shanghai recovered to 80.5% of the level same period last year while logistics also improved. A decline in consumption likely narrowed to a 7% y/y dip from the previous 11.1% decline, said Yicai citing economists. Fixed-asset investment may remain upbeat, growing about 7.2% amid policy pushes to boost the economy, the newspaper said citing economists. China is set to release its May economic indicators on Wednesday.