China’s industrial production in May misses target, retail sales up

Industrial output data for May was up by 5.0% on a year-on-year basis, compared to the 5.4% growth in the previous month.

China’s industrial output missed its target for the month of May while its retail sales did better-than-expected, data from the National Bureau of Statistics showed on Friday.

Industrial output data for May was up by 5.0% on a year-on-year basis, compared to the 5.4% growth in the previous month. Experts had called for a 5.4% growth.

The industrial output reading for last month was the slowest pace of growth in 17 years, relaying signs of weakening demand for a country caught in a trade war with the United States (US).

Retail sales meanwhile, rose by 8.6% in May, a step up from the 7.2% increase in April and the 8.1% estimate.

Muted reaction from AUD/USD

The mixed data from Australia’s biggest customer led to a muted reaction from the AUD/USD. The Australian dollar was little changed against the US dollar, down by 0.19% at US$0.6902 from the opening price of US$0.6915, at around 3.20pm Hong Kong time, IG data showed.

Fixed asset investment growth up 5.6%

Fixed asset investment growth expanded by 5.6% for the January to May period, compared to an increase of 6.1% in January to April. The market was expecting a 6.1% increase.

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

Please see important Research Disclaimer.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Sell
Buy
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Sell
Buy
Updated
Change

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Sell
Buy
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
China 300
-
-
-
-

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.