Chinese data continues to ease

Wednesday, 14 June 2017

China’s May data dump is out and is solid with a slow slowing developing. Headline numbers were roughly at consensus with industrial production stable 6.5%, fixed asset investment falling to 8.6% and retail sales stable at 10.7%:

Most importantly for Australia, real estate continues to slow. Sales growth eased again to 14.3%:

I expect this to fall to zero by year end as tightening takes effect and the rising base from 2016 catches up.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.