China heads for a soft landing

Thursday, 15 July 2021

China’s Q2 and June data dump is at hand. GDP came in at a robust 7.8% though quarterly it was 1.3% so annualised growth is still decelerating:

The internals are slowly returning to normal as COVID distortions wash out. Industrial production is at 8.3%, fixed asset investment at 12.6% and retail sales 23% year-to-date:

Turning to realty, house price growth eased a little to 0.5% monthly and 4.7% yearly:

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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.