China Factory Output Accelerates in May (FXI)

Economic data out of China hinted at accelerating growth last month, a positive signal for global markets and indications that recent moves by the country's leader to support stabilization are taking hold.

According to China's National Bureau of Statistics, factory output rose 8.8 percent in May, from an 8.7 percent gain in April. Retail sales moved from 11.9 percent in April up to 12.5 percent.

Economists were looking for industrial output of 8.8 percent and retail sales of 12.1 percent.

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