As some expected when the PBOC cut rates on Thursday, the weekend data dump from China isn't...


As some expected when the PBOC cut rates on Thursday, the weekend data dump from China isn't pretty. Industrial production rose 9.6% Y/Y in May vs. 9.9% expected. Retail sales rose 13.8% Y/Y vs. 14.3% expected. More fuel for the rate cut: The CPI rose just 3% Y/Y vs. 3.2% expected and down from 3.4% in April.

Comments (3)
  • pullgoodman
    , contributor
    Comments (99) | Send Message
     
    data is not bad at all. wall streets try to scare people. no wonder big rally this week.

     

    Industrial-production growth rebounded slightly in May. It was up 9.6% from a year earlier—beating April's 9.3%,

     

    Fixed-asset investment in non-rural areas—a closely watched indicator of construction activity—was up 20.1% from a year earlier for the first five months of 2012. That was slightly slower than the 20.2% rate of the January-April period.

     

    May retail sales were up 13.8% from a year earlier, slowing from April's 14.1% pace.

     

    Electricity output in May totaled 389.8 billion kilowatt hours, up 2.7% from a year earlier—a faster growth rate than April's 0.7%,

     

    Investment in property development in China picked up in May suggesting the market bottomed out in April.

     

    Meanwhile, the producer price index is down because cost of goods is down.
    9 Jun 2012, 08:26 AM Reply Like
  • Bear Bait
    , contributor
    Comments (922) | Send Message
     
    What do I know. But, I thought the numbers weren't as bad as the SA editors played it up to be. The numbers were all positive they just weren't as good as expected. SA seems to have a bearish lean to me anyway.
    9 Jun 2012, 10:41 AM Reply Like
  • Sam Liu
    , contributor
    Comments (3711) | Send Message
     
    IS that good that the inflation rose just 3.2%? CPI is drastically underestimated here-- just ask the taxi drivers.

     

    Furthermore the basket of goods used is more for the "middle class" which is the global middle class when 95% is either the lower middle class or just above poverty.
    9 Jun 2012, 08:27 AM Reply Like
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