The Federal Reserve’s policy meeting highlights this week’s slate of economic news.
Wednesday
China’s economic activity showed some signs of recovery in May, albeit at a slow pace, as Beijing, Shanghai and other big cities continued to endure pandemic restrictions. Economists surveyed by The Wall Street Journal estimate that retail sales, a key gauge of consumption, fell 6.9% from a year earlier in May, narrowing from an 11.1% decline in April. Industrial production is forecast to have fallen 1.0% last month, compared with April’s 2.9% decrease. Economists expect fixed-asset investment rose 6.1% in the first five months of the year, slowing from a 6.8% increase in the January-April period.
