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Economy Week Ahead: The Fed, Factories and Consumers

·2 min read
Economy Week Ahead: The Fed, Factories and Consumers

U.S. retail sales are expected to fall in May as auto sales decline, fiscal support for consumers fades and Americans shift their spending toward services and away from goods while vaccine campaigns advance and more businesses reopen. U.S. industrial production is forecast to rise in May, led by a pickup in manufacturing. China’s economic indicators for May are likely to show another month of slowing growth, as the base effect of a pandemic year eases and production is suspended in the manufacturing and export hub of Guangdong province to control recent Covid-19 outbreaks.