China: Disappointing economic data – Rabobank

Disappointing Chinese data got under Asian markets’ feet today as a miss in industrial production as well as in retail sales data was reported, explains the analysis team at Rabobank.

Key Quotes

“Industrial production expanded at a rate of 6% y-o-y in August, down from 6.4% in the prior month and the slowest expansion this year. At the same time, the pace of retail sales growth fell to 10.1% y-o-y, after July had already seen a decline in momentum as well. Where the consensus was expecting both production and retail sales to pick up some pace again, the slowdown in these data clearly hit a nerve.”