Data now out and a miss on expectations/prev
Shock. Not
- +5.7% prev
- yy YTD +6.1% vs +6.2% exp/prev
Also out Retail Sales:
- yy +11.0% vs +10.9% exp/prev
- yy YTD +10.6% as exp vs +10.5% prev
And Fixed Assets:
- ex rural yy YTD +10.2% as exp vs +10.3% prev
Implied oil demand +0.9% yy to 10.14m bpd
New property construction falls Jan-Oct by 13.9%
Nothing really jaw breaking but the industrial production miss will continue to give concern as the chart clearly shows and that property construction number is not so hot either
