This is the China activity data for July covering Industrial Production, Fixed Assets (excluding rural) and Retail Sales

Industrial Production 6.0% y/y … a miss

  • expected 6.3%, prior was 6.0%

industrial production YTD 6.6% y/y … in line

  • expected 6.6%, prior was 6.7%

Fixed Assets (excluding rural) YTD 5.5% y/y … a miss

  • expected 6.0%, prior was 6.0%

Retail Sales 8.8% y/y … a miss

  • expected 9.1%, prior was 9.0%

Retail Sales YTD 9.3% y/y … a miss

  • expected 9.4%, prior was 9.4%

Lotsa misses!

This will not be a positive input for the world's favourite China proxy, the AUD

more to come