China activity data for August
Industrial Production 5.3% y/y
expected 5.8%, prior was 6.4%
Industrial Production YTD % y/y
prior was 14.4%
Fixed Assets (excluding rural) YTD % y/y
expected 9.0%, prior was 10.3%
Retail Sales 2.5% y/y .... HUGE MISS!
expected 7.0%, prior was 8.5%
Retail Sales YTD 8.9% y/y
prior was 20.7%
That retail sales miss is a bad result indeed - its an indication of the impact of the recent outbreaks on the consumer. China's domestic sector is badly lagging the external sector.
more to come
