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MNI BRIEF: China May Sales Hit Three-Month High On Holiday

MNI (Singapore)
MNI (Beijing)
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China's consumption rebounded to mark the quickest growth since February thanks to the week-long May Day holiday, but industrial output and investment both slowed more than expected, data released by the National Bureau of Statistics on Monday showed.

Retail sales grew 3.7% y/y in May to hit a three-month high. The figure rose from the previous 2.3% gain and outpaced the 2.8% forecast. Retail sales grew 4.1% y/y in the first five months, while service retail sales rose by 7.9%.

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China's consumption rebounded to mark the quickest growth since February thanks to the week-long May Day holiday, but industrial output and investment both slowed more than expected, data released by the National Bureau of Statistics on Monday showed.

Retail sales grew 3.7% y/y in May to hit a three-month high. The figure rose from the previous 2.3% gain and outpaced the 2.8% forecast. Retail sales grew 4.1% y/y in the first five months, while service retail sales rose by 7.9%.

Keep reading...Show less