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China’s factory output growth last month slowed from a jump in March, while retail sales missed analyst expectations, indicating more pressure on the recovery in consumption.
Industrial production grew 9.8 percent from a year earlier, slower than the 14.1 percent surge in March, Chinese National Bureau of Statistics data showed yesterday, but matching a consensus forecast by analysts from a Reuters poll.
Aluminum production rose 12.4 percent from March to a record monthly volume.
China’s economy showed a steady improvement last month, but new problems are also emerging, bureau spokesman Fu Linghui (傅令輝) told a news briefing in Beijing.
“The foundations for the domestic
U.S. oil imports up, exports down last week: EIA
U.S. crude oil imports increased while exports decreased during the week ending May 7, the U.S. Energy Information Administration (EIA) said Wednesday.
U.S. crude oil imports averaged 5.5 million barrels per day (b/d) last week, up by about 37,000 b/d from the previous week, while crude oil exports averaged about 1.8 million b/d, down by about 2.3 million b/d from the previous week, according to the Weekly Petroleum Status Report.
Over the past four weeks, crude oil imports averaged about 5.7 million b/d, up by about 404,000 b/d year on year, while crude oil exports averaged about 2.8 million b/d, down by about 564,000 b/d year on year.
China’s surging factory prices add to inflation risks
INFRASTRUCTURE: ING Bank NV greater China chief economist Iris Pang said factory prices are surging due to property projects and building plans in China and the US
Bloomberg
China’s factory gate prices last month surged more than expected, fueled by rapid gains in commodity prices, adding to global inflation concerns.
The producer price index (PPI) rose 6.8 percent from a year earlier, its fastest pace since October 2017, following a 4.4 percent gain in March, the Chinese National Bureau of Statistics (NBS) said yesterday.
The median forecast was for a 6.5 percent increase.
Workers check rolls of sheet aluminum at a factory in Wuhan, China, on Saturday last week.