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The data from China is here from a few minutes ago:
- China June Retail Sales 9.0% y/y (expected 8.8%), Industrial Production 6.0% y/y (exp 6.5%)
- China Q2 GDP: 6.7% y/y (expected 6.7%)
China NBS:
- Says needs to assess impact on China's economy in H2 from trade frictions with the US
- Says China's prudent monetary policy will help keep consumer inflation steady in H2
- Sees limited impact on China's consumer prices from trade frictions with US
- Says June retail sales growth dragged by delayed auto buying in anticipation of tariff cut
- Expects China's consumption to remain steady in H2
- Says expects China's property investment growth to be relatively fast in H2
- Expects China's fixed-asset investment growth to be steady in H2
- Expects no change in China's steady, improving trend in its economy
China's GDP data never varies very much at all from its expected. they sure are expert managers of the economy over there. <end of sarcasm>
