May activity indicators show no significant pick-up signal for China

HONG KONG - China National Bureau of Statistics (NBS) economic activity indicators for May, including industrial production, retail sales and urban fixed asset investment (YTD) suggest that China’s economy continues its downward trend and has shown no significant signs of a pick-up in activity, according to BBVA Bank researchers. While retail sales and industry production were both in line with market consensus and last month’s readings, FAI remained sluggish.