Chinese activity data for the month of October 2019
Industrial Production 4.7% y/y for a substantial miss
- expected 5.4%, prior was 5.8%
Industrial production YTD 5.6% y/y
- expected 5.6%, prior was 5.8%
Fixed Assets (excluding rural) YTD 5.2 % y/y
- expected 5.4%, prior was 5.4%
Retail Sales 7.2% y/y and also a miss
- expected 7.8%, prior was 7.8%
Retail Sales YTD 8.1% y/y
- expected 8.1%, prior was 8.2%
The external sector is being hit by trade war impacts, and domestic demand is not holding up as expected.
I'll have more to come on this on a separate post.
