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Chinese oil refiners sharply reduced output last month to the weakest level in nearly four years, after the country’s crude imports plunged to an eight-year low due to the near-halt to shipments from the Persian Gulf.
Source
Bloomberg Markets
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Lower crude prices improves inflation outlook and eases pressure on current account deficit.
China’s consumer spending contracted last month for the first time since the pandemic and investment deteriorated, exposing risks still facing the economy even as it benefits from booming exports and a deescalation in tensions around Iran. UBS Securities Chief China Economist Yu Song shares his analysis. (Source: Bloomberg)
China's retail sales fell for the first time in more than three years in May, while urban investment contracted more than expected, adding to signs the economic slump deepened.
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