China Q2 GDP data is on the prior post
Comes in at +7.0 % y/y ... beating the 'expected)
- expected +6.8%, prior was +7.0%
Also, stronger figures for the other data today ...
June Industrial Production +6.8% y/y
- expected +6.0%, prior was +6.1%
Industrial production YTD +6.3%y/y
- expected +6.2%, prior was +6.2%
June Fixed Assets investment (excluding rural) YTD y/y, +11.4%
- expected +11.2%, prior was +11.4%
June Retail Sales +10.6% y/y,
- expected +10.2%, prior was +10.1%
Retail Sales YTD +10.4% y/y,
- expected 10.3%, prior was 10.4%
--
So, all the data points out of China today crush expectations.
There is often skepticism expressed over the veracity of Chinese economic data . Not unreasonably so in many cases.
To be fair, though, the skeptics are often very loud when the data is a beat, and not so much, if at all, when it is a miss. Bias, anyone? Guilty of this myself too .....
Anyway, back to today's data ....
On the face of it, a soft landing in China.
Given the slumping Chinese share markets, this is very welcome data today ....
