Latest data from the National Bureau of Statistics - 16 June 2021
- Prior +17.7%
- Retail sales YTD +25.7% vs +26.3% y/y expected
- Prior +29.6%
- Industrial production +8.8% vs +9.2% y/y expected
- Prior +9.8%
- Industrial production YTD +17.8% vs +18.0% y/y expected
- Prior +20.3%
The figures for both retail sales and industrial output miss on estimates so that is a touch disappointing but China is still on the recovery path, though policymakers continue to warn that the foundations are not quite secure yet.
Among the challenges they face are a rising yuan, surging commodity prices, and global supply chain disruptions - hence their recent response.
