July Industrial Production up 6.4% y/y ... Miss, as were all the others in this data dump
- expected 7.1%, prior was 7.6%
Industrial production YTD 6.8% y/y
- expected 6.9%, prior was 6.9%
July Fixed Assets (excluding rural) YTD 8.3% y/y,
- expected 8.6%, prior was 8.6%
- Growth of private investment slowed to 6.9% in January-July (from 7.2% in the first half of the year). Private investment accounts for about 60 percent of overall investment in China
July Retail Sales 10.4% y/y
- expected 10.8%, prior was 11.0%
Retail Sales YTD 10.4% y/y
- expected 10.5%, prior was 10.4%
More:
- Real estate investment +7.9% percent in January-July from the same period a year earlier (was +8.5% growth in the first half of 2017)
- New construction starts measured by floor area were up 8 percent in January-July (+10.6% in the first six months)
- Property sales measured by floor area +14% in January-July from the same period a year earlier (16.1% in the first six months of the year)
The misses in the headline results should be a negative input for China proxies (like AUD)