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Chinese July data is out and the overall message is a clear slowing, especially in the building economy with fixed asset investment slumping to 5.5%, industrial production at 6% and retail sales at 8.8%:
But real estate sales have turned and are still rising steadily year to date:
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Year on year took off, perhaps on demand pulled forward before the Winter shut-ins:
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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.
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