CH Retail Sales y/y

China’s retail sales fell for the first time in more than three years in May while urban investment contracted more than expected, piling pressure on Beijing to roll out meaningful stimulus to spur consumption, even as de-escalation in Middle East tensions offers some near-term relief. Retail sales, a gauge of consumption, declined in May for the first time since December 2022, dropping 0.6% from a year earlier, according to the National Bureau of Statistics on Tuesday. The Labor Day holiday at the start of May failed to offset ...

China's retail sales growth fell to -0.6% year-on-year in May, down from 0.2% in April. The data was in line with our forecasts, but weaker than market consensus (market -0.2%, ING -0.6%). It’s the lowest level since pandemic-skewed 2022. We continued to observe the impact of the trade-in policy on related categories, which dragged down overall consumption. Beneficiary categories such as household appliances (-15.6%), autos (-16.1%), and furniture (-8.7%) saw outsized drops on the month. We’re now seeing the flip side of frontloading ...

July Copper futures fell significantly, dropping over 8.25% from high to low across recent sessions. The downward pressure is largely driven by weak economic data out of China, where retail sales, industrial production, and fixed asset investment all missed expectations. As the world's largest consumer of copper, this data signals a broader manufacturing slowdown in Asia exacerbated by ongoing energy price shocks. Additionally, elevated energy prices stemming from the Strait of Hormuz closure are fueling global inflation, shifting ...

Confirming our Sunday preview, overnight China reported growth data which slowed across the board in April with investment resuming declines, retail sales missing sales and growing at the weakest rate in 4 years while industrial production rose at the slowest pace in three years, calling into question Beijing's reluctance to add stimulus to the economy as a global energy crisis hits factories and consumers across the world. China's Monday data dump of official data on Monday painted a picture of an economy where booming exports no ...

China’s retail sales slowed to just 0.2% year-on-year in April, down from 1.7%, coming in much worse than market forecasts for a modest acceleration. This was the slowest month of growth since 2022. The weakness of retail sales was broad-based. There are two key themes for this month's data. The first theme is that we're now paying the price for front-loaded demand from the trade-in policy, which we have been warning about since last year. Auto sales also continued to show signs of weakness, down -15.3% YoY. Replacement demand for ...

China's economy lost significant momentum in April, with industrial output and retail sales both badly missing forecasts, as the compounding pressures of higher energy costs from the Iran war and chronically weak domestic demand took hold. Factory output rose 4.1% from a year earlier, a sharp deceleration from the 5.7% recorded in March and the slowest pace of growth since July 2023. The reading fell well short of analyst expectations centred on 5.9% growth. Retail sales, the primary gauge of household consumption, rose just 0.2% in ...