more to come
Industrial Production +5.2% y/y, a miss and lower than the rise in July
- expected +5.8%, prior was 5.7%
- 5.2% y/y is the slowest growth in 12 months
Fixed Assets (excluding rural) YTD +0.5% y/y, a big miss
- expected 1.4%, prior was 1.6%
- property investment fell 12.9% in the January - August period
- January –August fixed asset investment growth hit a five-year low
Retail Sales +3.4% y/y, a big miss
- expected 3.8%, prior was 3.7%
- +3.4% is the slowest growth since November 2024
Unemployment rate 5.3%, a six month high
- up from July's 5.2%
This is disappointing data from China. Exports face tariff headwinds, while the weak property sector (house prices down, again, in August) weighs on domestic demand.
