China

China seems to be powering along at the moment which if sustained could help cushion the global economic blow - particularly for Australia.

China's National Bureau of Statistics said industrial output jumped 8.90% in May, up from the 7.3% in April. Retail sales in China rose 15.2% in the year to May and 14.8% to April. Both May figures were ahead of forecasts.

The AUD 724 billion stimulus package and increased investment (40% ) driven by bank lending (govt edict) is clearly having an impact.

One example of how this has fed into our economy is that to March Iron Ore export volumes are up 13%, pushing the sales value up 3% despite the slipping of prices.