Trial now

SAGBs Bull Flatten, 5Y CDS Holds Its Uptrend


Leaning bull flatter on the open




Watching Support


(U1) Holding Onto Recent Gains


China's macroeconomic indicators slowed in May as the base comparisons recovered from the depths of the Covid-19 outbreak in 2020, data released by the National Bureau of Statistics on Wednesday showed.

Industrial production grew 8.8% y/y in May, basically in line with the 8.7% median projection but down from the 9.8% gain in April. The average growth for the past two years was 6.6%. The 17.8% y/y growth for the first five months was slower than 20.3% in the Jan-Apr period. Retail sales rose 12.4% y/y in May, below April's 17.7% gain, underperforming the 14.0% forecast. The average growth for two years was 4.5%. The measure grew 25.7% in Jan-May, slower than 29.6% in the first four months.

Fixed-asset Investment registered a growth of 15.4% y/y in Jan-May, decelerating from 19.9% in Jan-Apr and underperforming the 17.2% projection. The average growth for two years was 4.2%. Manufacturing investment rose 20.4% y/y in Jan-May while it reversed previous fallings to grow 0.6% based on the average gain in two years. Meanwhile, infrastructure and property investment growth both slowed to 11.8% and 18.3%, respectively, although accelerated to 2.6% and 8.6% on average for the past two years. The registered urban unemployment rate dipped to 5.0% in May, 0.1 percentage point lower than in April.