Consumption - In May, the retail sales growth rate reached 6.4%, exceeding expectations of 4.9% and the previous value of 5.1%[8] - The increase in retail sales was driven by e-commerce promotions and an additional 2 days of holidays compared to last year, leading to concentrated demand release[2] - Significant improvements were noted in household appliances (+14.2 percentage points to 53.0%) and communication equipment (+13.1 percentage points to 33.0%) sales[9] Investment - Fixed asset investment growth slowed to 3.7%, below the expected 4%, with a monthly decline of 0.7 percentage points to 2.8%[8] - The decline in investment was primarily due to the end of the equipment renewal cycle and a drop in traditional infrastructure and real estate investments[3] - Real estate investment fell by 10.7%, slightly worse than the expected decline of 10.5%[8] Production - Industrial value-added growth in May was 5.8%, a decrease of 0.3 percentage points from April[25] - Manufacturing production saw a significant decline, down 0.4 percentage points to 6.2%, influenced by fewer working days in May compared to last year[25] - The decline in production was exacerbated by weak real estate and export sectors, particularly affecting transportation equipment and electrical machinery[25]

Group 1 - The business confidence index in Australia rose to 2 points in May 2025, while the business conditions index fell to 0 points, indicating a weak business environment [1] - The business conditions index has been steadily declining since the end of last year, primarily due to weak corporate profitability, with the profitability indicator remaining in negative territory at -4 points in May [1] - The three sub-indicators of the business conditions index showed a decline: the trading indicator dropped from 6 points to 5 points, the profitability indicator stayed at -4 points, and the employment indicator fell from 4 points to 0 points [1] Group 2 - Most industries in Australia experienced a decline in business conditions in May, with the retail and manufacturing sectors showing the most significant downturn [2] - The mining and transport/utilities sectors, which had previously shown significant volatility, saw notable improvement in business conditions this month [2] - The mining and entertainment/personal services sectors exhibited the strongest performance in business conditions, while manufacturing and retail sectors remained the weakest [2]

Economic Growth Overview - Australia's GDP grew by 0.2% quarter-on-quarter and 1.3% year-on-year in Q1 2025, showing a decline from the previous quarter's growth of 0.6% [1] - Per capita GDP experienced a negative growth of 0.2% quarter-on-quarter, contrasting with a 0.1% growth in the previous quarter [1] Factors Affecting Economic Performance - Public sector spending has significantly dragged down economic growth, reaching the highest level of detriment since Q3 2017 [1] - Extreme weather events have suppressed domestic final demand and exports, particularly impacting the mining, tourism, and shipping industries [1][2] Consumer and Investment Trends - Household consumption increased by 0.4%, driven mainly by spending on essential items such as food and rent [1] - Private sector investment rose by 0.7%, primarily from residential, new construction, and engineering projects, while public sector investment fell by 2% after reaching a record high in the previous quarter [1] Savings and Income - The household savings rate increased to 5.2%, with disposable income growing by 2.4% [1] Export Challenges - Commodity exports, particularly coal and liquefied natural gas, were negatively impacted by adverse weather affecting production and shipping [2] - The tourism services sector underperformed, with international student numbers growing below average and a decline in per capita spending by students [2] Economic Outlook - Experts suggest that despite the impact of extreme weather, the underlying economic fundamentals remain weak, with low consumer spending and business investment [2] - There is a call for more accommodative monetary policy to stimulate the economy, with potential early initiation of a rate cut cycle if the Reserve Bank of Australia acknowledges the trends of economic slowdown and declining inflation [2]

Economic Indicators - The US Services PMI unexpectedly contracted in May, dropping from 51.6 in April to 49.9, below market expectations of 52[2] - The Manufacturing PMI decreased by 0.2 to 48.5, also below the expected 49.5, indicating a continued contraction in the manufacturing sector[2] - The New Orders Index for services plummeted from 52.3 to 46.4, reflecting a significant decline in demand[2] Inflation and Price Pressures - The Prices Index for services surged from 65.1 to 68.7, marking the highest expansion rate since late 2022, indicating inflationary pressures[2] - The Manufacturing Prices Index remained high at 69.4, despite a slight decrease from 69.8, suggesting persistent inflation in goods[2] Economic Growth Projections - The projected GDP growth rates for the US are expected to decline from 2.1% in Q1 to 1.8% in Q2, 1.3% in Q3, and 1% in Q4 of this year[2] - The PCE inflation rate is anticipated to rise from 2.5% in Q1 to 3% in Q3 and 2.9% in Q4[2] Policy Environment - The policy environment is expected to remain unfavorable in the next three months, with the White House likely to continue pressuring trade partners and the Federal Reserve possibly pausing interest rate cuts[1] - Improvement in the policy environment is anticipated in Q4, with potential agreements with major trading partners and a return to interest rate cuts by the Federal Reserve[1]

美国商务部长卢特尼克：墨西哥应当专注于采矿和炼油行业。 ...

Group 1 - The meeting of the Commonwealth of Independent States (CIS) government heads took place in Dushanbe, Tajikistan, focusing on industrial development and transportation cooperation [1] - A significant topic was enhancing industrial cooperation, with an agreement on heavy machinery manufacturing cooperation aimed at improving self-research capabilities in key sectors such as metallurgy, mining, energy, oil and gas, and chemicals [1] - In light industry, a cooperation concept was adopted to accelerate green transformation and establish a modern production system that is resource-efficient and environmentally friendly [1] Group 2 - The meeting also addressed regional aviation management collaboration, proposing enhanced coordination in flight rules, technical standards, and operational procedures to improve civil aviation safety and airspace utilization efficiency [2] - The next CIS government heads meeting is scheduled for September 30 in Minsk, Belarus [3]

秘鲁部长：秘鲁政府恢复了在秘鲁北部受暴力影响地区的正式采矿作业。 ...

智通财经6月5日电，秘鲁政府恢复了在秘鲁北部受暴力影响地区的正式采矿作业。 ...

秘鲁政府恢复了在秘鲁北部受暴力影响地区的正式采矿作业。 ...

Core Viewpoint - The Supreme People's Court of China has released the 46th batch of five guiding cases on ecological and environmental protection, aiming to unify legal application, clarify adjudication rules, and enhance judicial fairness in environmental civil public interest litigation [1][2][3] Group 1: Clarification of Legal Rules - The guiding cases clarify the adjudication rules for ecological environmental infringement liability, emphasizing the balance between high-quality development and high-level protection [1] - Case 257 establishes that if a construction project has undergone an environmental impact assessment and taken protective measures, it should not be deemed to pose a significant risk to social public interests [1] - Case 258 reinforces the principle of "protection first, prevention foremost," allowing courts to take immediate measures against significant risks posed by environmental pollution [1] Group 2: Regulation of Environmental Public Interest Litigation - The guiding cases outline the examination rules for environmental public interest litigation, ensuring the effective exercise of litigation rights by parties involved [2] - Case 259 specifies that courts should only allow withdrawal of lawsuits if the plaintiff's requests regarding ecological restoration and damage compensation have been fully realized [2] - Case 260 mandates substantial review of any settlement agreements in environmental civil public interest litigation to ensure they adequately protect social public interests [2] Group 3: Cross-Administrative Jurisdiction - The guiding cases establish procedural rules for cross-administrative jurisdiction cases, enhancing ecological environmental governance and judicial support for river basins [3] - Case 261 allows higher courts to designate lower courts with environmental resource adjudication functions for cross-administrative cases, facilitating better governance [3] - The Supreme People's Court aims to integrate the concept of "lucid waters and lush mountains are invaluable assets" into judicial practices, contributing to the construction of a harmonious relationship between humans and nature [3]