Due at 0200 GMT,GMT, activity data for May
- Industrial Production y/y expected is 7.0%, prior was 7.0%
- industrial production YTD y/y expected is 6.6%, prior was 6.9%
- Fixed Assets (excluding rural) YTD y/y, expected is 7.0%, prior was 7.0%
- Retail Sales y/y, expected is 9.6%, prior was 9.4%
- Retail Sales YTD y/y, expected is 9.7%, prior was 9.7%
A couple of previews, quickies only:
Nomura:
- We expect industrial production growth to tick up in May, as indicated by high frequency indicators, a better-than-expected official PMI and strong export growth.
- Fixed asset investment growth should stabilise in May after slowing in previous months, as the acceleration in fiscal expenditure likely offset the negative impact from deleveraging.
- We expect retail sales growth to rebound after a sharper-than-expected drop in April.
Daiwa:
- key activity indicators for May are scheduled for release (IP, retail sales, fixed investment etc).
- Bloomberg's survey suggests that analysts expect these indicators to at least maintain the growth rates reported in April, consistent with recent PMI readings.
NAB:
- The monthly Chinese activity figures … with year-ended growth in Industrial Production, Retail Sales and Fixed Assets expected to stay steady, at 6.9%, 9.7% and 7%, respectively.
- Markets expect some consolidation but recent official PMI data surprising on the upside may underpin some improvement in IP.
