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July 2020 China Macro Data Recap

China’s recovery from the COVID-19 outbreak stalled in July, with industrial output growth below expectations at 4.8% and deflationary pressures clearly building in non-food prices. Strength in auto output masked a broader slowdown in industrial activity, as well as continued weakness in household consumption. The extension of the recovery into the second half of the year depends primarily upon maintaining property sales at current levels and seeing stronger job growth and consumer spending.

Posted August 26, 2020
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