China Industrial Output Growth Holds Steady in May; Up 6.5% On-Year

Getty Images

Getty Images

China's crude oil production fell to its lowest on record in May, even as refineries in the world's top buyer of crude churned out product at their fastest pace in almost two years, data showed on Wednesday.

Global concerns about China have increased since Moody's Investors Service downgraded its credit ratings in May. But some analysts expect increasingly stringent cooling measures will eventually drag on investment and dampen construction activity.

The growth of the private investment slowed to 6.8% in January-May period from 6.9% in the first four months, according to the National Bureau of Statistics.

Analysts polled by Reuters had predicted factory output would grow 6.3 percent in May, easing slightly from 6.5 percent in April.

During January to May, fixed asset investment increased 8.6 percent from the same period of the previous year, which was slower than the 8.8 percent growth economists had forecast and the 8.9 percent rise logged during the January to April period.

Consumption was relatively stronger in rural areas, with retail sales expanding 12.7 percent in May, outpacing urban areas, where retail sales climbed 10.4 percent year on year. Overall throughput was down from a record reached in March, but May recorded the fastest rate of year-on-year growth since May 2015.

Private sector investment accounts for around 60% of total investment in China. It had been expected to slip to 8.8 percent from 8.9 percent in Jan-April.

But some China watchers are more anxious about the risks of sharp slowdown in 2018.

Early warning indicators of a financial crisis were already flashing red, economists at Nomura said in a note this week, echoing the warnings of others such as the Bank for International Settlements (BIS).

Recommended News

  • Students not involved in altering pro-Trump photos

    Students not involved in altering pro-Trump photos

    Junior Wyatt Dobrovich-Fago's high school yearbook photo also was altered, so the Donald Trump logo was missing from his vest. Snyder declined to comment. "The words and symbols that were used in the yearbook are neither appropriate or acceptable".

    US college student released by North Korea home, but in coma

    A 2009 visit by former President Bill Clinton, a Democrat, secured the freedom of American journalists Euna Lee and Laura Ling. Shortly after Warmbier's sentencing, Kim Dong-chul, was arrested on accusations of espionage, and has been held ever since.

    Weir Group PLC (WEIR) Stock Rating Reaffirmed by Peel Hunt

    The stock of London Stock Exchange Group Plc (LON:LSE) has "Add" rating given on Thursday, August 13 by AlphaValue. BT Group PLC earned a news sentiment score of 0.13 on AlphaOne's scale. 14,514 were accumulated by Amg Funds Lc.
  • Freshman football player dies after morning workout

    Freshman football player dies after morning workout

    According to the Record Courier , DePerro said the autopsy's conclusion may not arrive for several weeks. Heartbroken parent Ronnie Reed tweeted out "Heartbreaking!" I'm blessed to have had him as a friend.
    Attorney General Jeff Sessions denies 'false and scurrilous allegations'

    Attorney General Jeff Sessions denies 'false and scurrilous allegations'

    In his testimony today before the Senate Intelligence Committee, Sessions - the U.S.'s chief law enforcement officer - told Sen. Trump has suggested there might be tapes of his encounters with Comey; Comey said last week that "lordy" he hopes there are.
    Protesters send message to Govt and U.S.  on Paris Climate Agreement

    Protesters send message to Govt and U.S. on Paris Climate Agreement

    McNally said: "Nothing about the USA withdrawal would seem to indicate any form of job creation for the city of Youngstown". The business leaders and officials described Trump's move as "out of step with what is happening in the United States".
  • California governor named adviser for UN climate conference

    California governor named adviser for UN climate conference

    Trump has said he would be open to renegotiating Paris, something most European G7 nations have already rejected. The statement goes further to encourage the 49 remaining parties that have not ratified the agreement to do so.
    Attorney General Jeff Sessions says he was never briefed on Russia probe

    Attorney General Jeff Sessions says he was never briefed on Russia probe

    Kamala Harris (D-CA) pressed him on those policies and wanted Sessions to be specific about those regulations. Paul Manafort? "You're impeding this investigation". "I'll answer it in closed session".
    Katy Perry reacts to Taylor Swift's return to streaming

    Katy Perry reacts to Taylor Swift's return to streaming

    And I've said that on the record. "And she told me about the power in black women's hair and how lovely it is, and the struggle". And the DJ fired back at his former girlfriend on Twitter after hearing what she said about him to James Corden .
  • 7 takeaways from Jeff Sessions testimony

    7 takeaways from Jeff Sessions testimony

    Sessions raised his voice in protest when asked what those reasons were. "I can tell you that for absolute certainty". He opened by asking the question which was central to the investigation but which, somehow, had not yet been asked.

    Erin Hills and Rory McIlroy: a match made in Wisconsin

    I feel like I can pick up confidence pretty quickly". Stricker said his hard-working path to the U.S. He could have already played in his last U.S.

    NHL Stanley Cup: Sidney Crosby, Pittsburgh Penguins win 2nd straight championship

    Tomorrow, we wake up. "We did that, we knew it was going to be tough to get back here but we found a way", said Crosby . Here's the most ludicrous thing of all: Murray led Pittsburgh to not one , but two titles as a rookie .

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.