Overview

• The US and China agreed to a 90-day tariff truce in mid-May, rolling back most triple-digit levies on each other’s goods.
• China’s retail sales jumped 6.4% year-on-year in May, exceeding analyst expectations and accelerating from April’s 5.1% growth.
• Growth in China’s industrial output slowed to 5.8% in May, marking a six-month low and missing forecasts.
• US retail sales fell 0.9% in May, driven by declines in auto and gasoline purchases after a tariff-related buying spree.
• China’s property sector remains weak as new home prices dropped for the 24th consecutive month in May.