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

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

  • Jeff Sessions: Russia collusion claim a 'detestable lie'

    They say he did not mislead Congress because the encounters were part of his job as a senator, not as a surrogate of the Trump campaign.

    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.
    Brexit talks may not start on June 19, David Davis suggests

    Brexit talks may not start on June 19, David Davis suggests

    "I don't think we should talk about some prolongation of the deadline", he said in Prague. Now, all remains unclear. "The most important thing in the aggregate is the trade area".
  • Will the NBA Champion Warriors Visit the White House?

    That pushed Golden State to add Durant as a free agent last July and the results have been devastating. And I did that from day one, and I just tried to stay with that".

    Cristiano Ronaldo hit with €14.7 million tax fraud charge

    Messi's Barcelona teammate Neymar is also being prosecuted in Spain over his transfer from Brazilian team Santos in 2013. In December, leaked documents suggested that Ronaldo had avoided tax on income allegedly held in offshore accounts.

    How to Watch Jeff Sessions's Senate Testimony on Tuesday

    As these investigations remain ongoing, no substantive evidence exists that shows the Trump campaign worked with Moscow. Last Thursday, fired FBI Director James Comey had many glued to the TV when he testified before the same committe.
  • Travel ban: Where things stand and what comes next

    The revised EO was issued after the initial travel ban in January was withdrawn by President Trump due to legal setbacks. A United States federal judge in Hawaii indefinitely extended on March 30 a court order blocking Trump's new travel ban.
    Golden Knights should stock up on goaltenders

    Golden Knights should stock up on goaltenders

    Wednesday, June 21: During NHL Awards show in Las Vegas, the league will announce the Golden Knights' Expansion Draft selections. All teams must exposes at least one goaltender who is under contract for 2017-18, or who is a restricted free agent this summer.

    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 .
  • Tom Holland reveals plans for a new Spider-Man trilogy

    Since then, fans have been hanging on every Marvel insider's word, desperately looking for clues about Spider-Man's fate. But that does not suggest any kind of similarity of the surnames of Vulture and Michelle.

    Were Russians spying on Kansas infrastructure? McCain asks Sessions

    Sessions argued that in the context of that hearing, "my answer was a fair and correct response to the charge as I understood it". Sessions on Tuesday defended his involvement in Comey's firing despite recusing himself from the Russian Federation probe.
    Lorde May Just Have A Secret Instagram Dedicated To Onion Rings

    Lorde May Just Have A Secret Instagram Dedicated To Onion Rings

    This onion-ring-account operator could be based anywhere in the world, but two of the four posts are US-based. Here's a photo Lorde shared on Twitter of her going to a Sonic, which serves onion rings .

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.