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China posts solid macro growth in May, despite slowing industrial output

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China’s economy continues to surprise to the upside.
Per data released by the stats bureau (NBS) on Monday:

Retail sales of consumer goods grew 6.4% y/y in May, up from 5.1% the previous month
Retail sales of services grew 5.6% y/y, up from 5.4% in April and marking the fourth consecutive month of ...



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