Chinese construction crash clears way for iron ore catastrophe

Monday, 15 November 2021

China’s October data dump is out and it is weak in general and shocking for construction. The headline growth numbers were OK with industrial production at 3.5% YOY and 11.8% YTD, fixed asset investment is 6.1% YTD and retail sales 4.9% YOY and 14.9% YTD:

However, that is the good news.

House prices are now falling nationally, down 0.2% on the month but still up 3.4% for the year:

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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.