Indications of economic activity in China as the country recovers from the pandemic and shut down still.
Industrial Production +4.8% y/y miss
- expected 5.1%, prior was 4.8%
Industrial production YTD -0.4% y/y
- expected -0.4%, prior was -1.3%
Fixed Assets (excluding rural) YTD -1.6% y/y
- expected -1.6%, prior was -3.1%
Retail Sales -1.1% y/y miss ... even more of a disappointment
- expected +0.1%, prior was -1.8%
Retail Sales YTD -9.9% y/y
- expected -9.3%, prior was -11.4%
Survey Unemployment 5.7%
- expected 5.7%, prior 5.7%
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Factory output continues to rise, not quite as fast as expected. The miss on retail sales is more of a disappointment as it is indicative of domestic demand in China slow to recover. While the consumer sector languishes economic recovery will be slow.
mtc more to come
