China’s retail sales grew a disappointing 2.5% in August from a year ago as the country dealt with the worst outbreak of Covid-19 since its initial spread in early 2020. Data on consumer spending released by the National Bureau of Statistics on Wednesday came in well below the 7% growth forecast by analysts polled by Reuters. Industrial production growth was also slightly below expectations, up 5.3% in August versus predictions of 5.8% growth. Fixed asset investment for the first eight Mainland China controlled a late July outbreak of the highly contagious delta variant by mid-August. Under Beijing’s “zero tolerance” ... (full story)

In August, under the strong leadership of the Central Committee of the Communist Party of China (CPC) with Comrade Xi Jinping at the core, all regions and departments implemented the decisions and arrangements made by the CPC Central Committee and the State Council and coordinated both the epidemic prevention and control and the economic and social development. As a result, the national economy maintained the trend of recovery with the transformation and upgrading forging ahead, vitality of innovation unlocked, employment and prices generally stable, quality and efficiency improved, and major macro indicators staying ... (full story)

On the heels of data showing land sales collapsing, tonight's smorgasbord of data (absent only GDP) on consumption, industrial output and investment will reveal the extent of the damage caused by an outbreak of the delta variant. As a reminder ahead of tonight's August data, the latest official composite purchasing manager’s index fell to the lowest since February 2020, its first contraction after the virus lockdowns, signaling China’s robust economic recovery from last year’s coronavirus trough is losing momentum. Industrial Production YTD YoY MISSED at +13.1% vs +13.5% exp DOWN from +14.4% prior Retail Sales YTD ... (full story)

China’s economy weakened further in August after the government imposed stringent measures to contain a widespread Covid-19 outbreak, curbing consumer spending and travel during the peak summer holiday break. Retail sales growth slowed sharply to 2.5% from a year ago, lower than the 7% estimate in a Bloomberg survey of economists. Industrial output rose 5.3%, versus the median estimate of 5.8%. Fixed-asset investment in the first eight months of the year was largely in line with projections, rising 8.9%. The unemployment rate was unchanged at 5.1%. Even before the delta variant outbreak from late July, consumers had ... (full story)

China's industrial output rose 5.3per cent in August from a year earlier, the weakest pace since July 2020, while growth of retail sales also slowed significantly and missed expectations, official data showed on Wednesday. The growth of factory output was slower than a 5.8per cent year-on-year increase tipped by a Reuters poll of analysts, and compared with a 6.4per cent increase in July. COVID-19 controls, prolonged semiconductor shortages and curbs on high-polluting industries have disrupted activity in the world's second-biggest economy. China's vehicle sales slid in July for a third consecutive month, partly ... (full story)