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CHINA DATA: China Data Pointing to Further Slowdown

CHINA DATA
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  • Economic data for August showed that the Chinese economy is continuing to slow with Saturday’s official data releases all below market expectations.
  • China’s retail sales grew 2.1% for August, below expectations of 2.5% and down from July’s 2.7%.
  • China’s consumer activity has been slowing driven by the poor sentiment from the multi-year downturn in the housing market.
  • Industrial Production too missed estimates rising 4.5% in August yoy, a decline from July’s 5.1% expansion and also below economists estimates of a 4.7% rise.
  • Fixed asset investment for the period to August rose 3.4%, again missing market expectations.
  • China new home prices declined 0.73% month on month, with prices down in 67 cities.
  • This is the latest in a raft of slowing data and whilst it is not falling off a cliff, it remains clear that the housing market malaise has permeated through the entire economy, slowing activity.
  • The weekend’s data could be a precursor to further policy action but most likely in the week’s post the Fed’s move on interest rates. 
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  • Economic data for August showed that the Chinese economy is continuing to slow with Saturday’s official data releases all below market expectations.
  • China’s retail sales grew 2.1% for August, below expectations of 2.5% and down from July’s 2.7%.
  • China’s consumer activity has been slowing driven by the poor sentiment from the multi-year downturn in the housing market.
  • Industrial Production too missed estimates rising 4.5% in August yoy, a decline from July’s 5.1% expansion and also below economists estimates of a 4.7% rise.
  • Fixed asset investment for the period to August rose 3.4%, again missing market expectations.
  • China new home prices declined 0.73% month on month, with prices down in 67 cities.
  • This is the latest in a raft of slowing data and whilst it is not falling off a cliff, it remains clear that the housing market malaise has permeated through the entire economy, slowing activity.
  • The weekend’s data could be a precursor to further policy action but most likely in the week’s post the Fed’s move on interest rates.