China's evidence slowing down.

China has continued to provide further evidence of a slowdown in the country's economy, with industrial-output growth moderating to 8.7% on year in April from 8.8% and retail sales softening to +11.9% from +12.2%. Aggregate financing, the widest measure of new credit, fell to 1.55T yuan ($249B) from 2.07T yuan. The figures reflect Chinese attempts to rein in soaring lending at the expense of higher growth.