As expected, China’s industrial production index has moderately declined by 0.1 percent points during May compared with April 2011; nevertheless, this index was 13.3% above the rate on a year to year scale.
Despite a slowdown in the growth rate during May in the main industrial production index, there was still growth in main sectors including real estate and major commodities.
The investments in fixed assets and real estate continued to rise very sharply during May.
The output of crude oil inclined by 1.4% in May (Y-2-Y) as it reached 17.43 million tons. Electricity consumption was also up by 12.1% (Y-2-Y). During May, the demand for gold and silver Jewelry increased by 43% (Y-2-Y).
The PPI of Main Manufactured Goods index showed mixed trends as crude oil fell by 3.6% in May, while coal remained unchanged. This might indicate of a slowdown in the price growth in China.
Current Nymex crude oil price, short term futures (July 2011 delivery) is traded up with a 0.31% increase, as its at $97.60 per barrel as of 10:10*.
Current gold price, short term futures (July 2011 delivery) is traded at $1,522.1 per t oz. a $6.5 increase or 0.43%, as of 10:02*.
For further reading (in this site):
- China seeks to expand it gold operations in Africa
- Bank of China raised loans restrictions again – May 22