Chinese growth is terrible and will stay that way

Monday, 19 September 2022

Pantheon with the note.

China: Industrial production rose 4.2% y/y in August, from 3.8% in July. Consensus was 3.8%.
China: Retail sales grew 5.4% y/y in August, from 2.7% in July. Consensus was 3.3%.
China: Fixed asset investment rose 5.8% ytd y/y in August, from 5.7% in July. Consensus was 5.5%.
China: New home prices fell 0.29% m/m in August, after a 0.11% drop in July. Bloomberg reports no consensus.

Demand for energy during a heatwave props up industrial output

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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.