Business activity slows in China in May

“May’s increase undershot a median 7% expected growth forecast according to a poll of 11 economists conducted by The Wall Street Journal” reports Growth for the closely watched indicator of construction activity also undershot economists’ median forecast for a 7% gain.Retail sales in China climbed 8.5% in May from a year earlier, slowing from a 9.4% on-year increase in April; that was lower than economists’ forecast for 9.6% growth. China’s central bank on Thursday left key short-term interest rates unchanged, despite the Federal Reserve’s second rate increase in 2018.

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