A spokesman for China's National Bureau of Statistics (NBS):
- external environment is very severe
- uncertainties are rising
- some firms having difficulties in operations
- unemployment is higher due to graduation season
- will expand domestic demand
- will boost consumption
- will promote rebound in prices
- will further stabilise the economy
- will stabilise employment
- anti-involution measures have shown positive results on prices
- property sector is still stabilising despite some volatility, efforts at destocking are continuing to show results
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Earlier:
- China August Industrial Production +5.2% y/y, vs. expected 5.8%
- China house prices plunge even further in August, down 2.5% y/y (prior -2.8%)
- China - household savings rotating into equities amid active markets and policy tailwinds
The poor data is generating suggestions of more policy stimulus to come. That is an option of course, but what have seen in this cycle is pievemeal stimulus efforts onlys.
