Here's our summary of key economic events overnight that affect New Zealand, with news there is still no sign yet that the Chinese economy is back driving international trade. If there is a bright spot, it is car sales, and these are expected to stay healthy for a while yet. China said its retail sales rose in April by a strong amount, up +18% above year ago levels. China also reported that industrial production rose by +5.6% year-on-year in April, but this was below market forecasts of an +11% rise, so it comes with a tinge of disappointment. That means the TWI-5 is now at 70.5 and up a mere +10 bps from this time yesterday.

Source: Stuff May 16, 2023 22:49 UTC