China Trade Surplus ...from eisa23

China Trade Surplus Tops Estimates China's trade surplus jumped to USD 78.76 billion in May 2022 from USD 43.28 billion in the same month a year ago, exceeding the market consensus of a surplus of USD 58 billion. Exports grew by 16.9% as factories restarted production after an easing of COVID-19 curbs in key cities, while imports were up 4.1%, the first increase in 3 months.

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US Personal Spending Tops Forecasts Personal spending in the US increased 0.9% in April, beating market forecasts of 0.7%, in a sign consumption remains robust despite rising prices. There was widespread spending across goods and services except for gasoline. Meanwhile, personal income increased at a slower-than-expected 0.4% and PCE inflation eased from records.

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UK Retail Sales Unexpectedly Fall in May Retail sales in the UK declined by 1.4% from a month earlier in May, following a 9.2% increase in April and missing market expectations of a 1.6% advance. Receipts at food stores and non-store retailers fell sharply following the easing of restrictions for hospitality and non-essential retail. Still, total retail sales were up 9.1% when compared with their pre-pandemic February 2020 levels.

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