Logo 15 Jun 2023

From bad to worse

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The stats bureau (NBS) published the monthly econ data for May on Thursday.
The headlines:

Retail sales rose 12.7% y/y in May, down from 18.4% y/y growth in April.
Fixed-asset investment (FAI) rose 1.6% y/y in May, compared with 3.6% y/y growth in April.
Value-added output at industrial firms rose ...