Global stocks slip amid weak Chinese data but oil rises

LONDON (AP) — Weak Chinese economic data weighed on global stocks Monday at the start of a week that's likely to be dominated by speculation over whether the U.S. Federal Reserve will raise interest rates in June.

Though partially offset by solid retail sales data, the news that industrial production growth slipped to a year-on-year rate of 6 percent in April from 6.8 percent the previous month reinforced concerns over the scale of the slowdown in the Chinese economy.

The Chinese poured a record amount of fresh credit into the economy for the first quarter and the improvement in figures for March were likely boosted by this, but it looks increasingly like a short-term reprieve that is unsustainable and contrary to the prevailing trend.

In addition to planned remarks from a raft of Fed officials, traders will also be monitoring Wednesday's release of the minutes to the last meeting of the Fed policymakers.

Some solid economic data and the waning of the early-year volatility in financial markets have raised expectations that the Fed will raise interest rates again in June.