China industrial output May +6.1% vs year earlier vs +6.0% exp

Jan-May industrial output rises 6.2% yy as exp

• May retail sales +10.1% yy as exp
• Jan-May retail sales rise 10.1%
• fixed asset investment exc rural households +11.4% Jan-May

Better than expected header but the National Bureau of Statistics warns that downward pressure remains and that lack of funding limits investment growth

PBOC may be inclined to go into wait n see mode on the more encouraging data