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Industrial Output in China Increased 6.0% in May

Industrial Output in China Increased 6.0% in May, Same as in April

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On a year to date basis, China's industrial output increased 5.90%, according to data from the National Bureau of Statistics. The agency's data also showed that retail sales increased 10.00% on the year, falling below estimates as fixed investment was also soft, rising 9.60% below estimates of 10.50%.

 

German CPI Rises in May


Consumer prices in Germany edged higher, rising 0.10% on a yearly basis, offsetting the -0.10% declines in April, according to data from statistics agency Destatis. On a month over month basis, German CPI was up 0.30%, compared to 0.40% decrease seen in April. In a separate report from Destatis on Friday, wholesale prices in Germany declined at a slower than expected pace in May after the 2.70% drop in April. Germany's wholesale prices have been steadily declining since July 2013 with April's decline marking the smallest in over four months – a good sign for the important metric.

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UK Construction Output Expands in April


Construction activity in the UK showed an expansion for the first time in four months, rising 2.50% on a monthly basis in April, data from Office of National Statistics showed on Friday. The 2.50% gains in April come following a decline of -3.60% in March and the two months trailing. New work in the sector jumped 2.90% while repair and maintenance increased 1.90%. On a year over year basis, construction output remained weaker, falling to 3.70% - but better than the 4.50% decline seen a month before. The increase in construction sector marks a steady all round increase in the manufacturing, industrial and construction sectors.

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US Consumer Inflation Expectations Falls


Consumer inflation expectations, in a survey by the University of Michigan on Friday showed that consumers in the US expect inflation to rise at a pace of 2.30% over the next 5-year period. The expectation is one of the lowest on record in the survey’s history. The university’s inflation expectations are seen as a key factor among policy makers, with the US Federal Reserve meeting this week to decide on interest rates. According to various Fed officials speaking a few weeks ago, most mentioned that inflation expectations need to stabilize to bolster confidence among policy makers that price growth will strengthen in coming years.

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Canada's Jobs Report Surprises


Beating conservative forecasts, Canada's economy added nearly 14,000 jobs in the month of May while pushing the unemployment rate lower to 6.90%, from 7.10% in April. Across the country, there was a marked increase in hiring. More jobs were seen in full time, jumping 61,000 while the part time sector lost 47,000 jobs. Statistics Canada said that the decline in unemployment rate was due to fewer people taking part in the labor market survey. It also noted that the participation rate fell to 65.70%, the lowest since January 2015. Most of the job declines in the part time came from retail and wholesale trade sector.

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