China’s stimulus pulse fades away

Tuesday, 17 November 2020

Chinese data for October was out late yesterday and it shows an economy with a fading stimulus pulse. Industrial production was up 1.8% YTD and a more encouraging 6.9% YOY. Fixed asset investment was up 1.8% YTD and retail sales are still the laggard down 5.9% YTD but up 4.3% YOY:

The all-important real estate sector is slowing. Despite lifting credit, prices are fading fast, down to a barely positive 0.15% in October and 4.3% over the year:

Stable and declining price cities now outnumber rising:

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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.