China | Growth slowdown deepened as trade war risk intensified again

Summary

A batch of May economic indicators are announced today, together with previously released trade and credit data, suggesting that the risk of growth deceleration looms large as US-China trade war remain unsettled. We anticipate more monetary and fiscal easing measures to be deployed to sustain growth momentum.

Key points

• Key points:
• A batch of May economic indicators are announced today.
• It is suggesting that the risk of growth deceleration looms large as US-China trade war remain unsettled.
• We anticipate more monetary and fiscal easing measures to be deployed to sustain growth momentum.
• May economic indicators suggest that growth slowdown is broad-based.
• May credit data is broadly stable with the previous month readings.

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