As if you had not guessed that China’s weekend releases of economic data were going to be weak after that surprise rate cut late in the week, the tally is out and it is weak on all fronts. The U.S. and other major industrial nations would kill for growth numbers like these. China just requires higher numbers from the National Bureau of Statistics of China for the world to be growing more.
Industrial Production rose 9.6% during the month of May in China. The good news is that it was up from the 9.3% reading in April. The bad news is that April’s 9.3% was the lowest reading in almost three years. More bad news is that Dow Jones was calling for 9.9% growth.
China’s retail sales rose by 13.8% year over year in May to 1.67 trillion yuan (almost $265.1 billion U.S.). The reading in April had been 14.1%. …
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