China’s May Industrial Output unexpectedly rebounds 0.7%, Retail Sales beat estimates

China’s May Retail Sales YoY, arrived at -6.7% vs. -7.1% expected and -11.1% previous while Industrial Production YoY came in at 0.7% and -0.7% estimated and -2.9% prior.

Meanwhile, the Fixed Asset Investment YoY rises to 6.2% vs 6.0% expected and 6.8% last.

Additional details

China May nationwide survey-based jobless rate at 5.9%.

China May survey-based jobless rate in 31 major cities at 6.9%.

China’s economy created 5.29 mln new urban jobs in Jan-May.

Market reaction

The Australian dollar remains uninspired by the big beat on the Chinese data. The AUD/USD pair is holding onto its latest recovery gains near 0.6915, adding 0.66% so far.

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