Highlights: 1) Industry credit continues to decelerate (5.7% YoY in April), while overall credit remains buoyant. 2) Consumer sentiments continue to improve and Services PMI came in at a 13-year high of 62. 3) Trade balance improved to US$ -15.2 billion in April (versus -18.6 billon in March), as both Oil and Gold imports drop. 4) US retail sales grew by a meagre 1.6% YoY in April, remaining negative in real terms; US money supply has now seen contraction for 6 months in a row. 5) Oil has dropped to $75/bbl currently, as has LME Index (currently at 3722). CRB Food Index remains static.
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