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Q3 2019 China Macro Data Recap

China’s economy slowed to 6.0% y/y real GDP growth in Q3, while industrial value-added growth picked up slightly from August levels. Deflationary pressures are building in China despite a pork-driven surge in headline CPI growth, and falling import levels suggest weakening cyclical activity and commodity demand. The property sector outlook remains the key variable determining the extent of the slowdown ahead in 2020, as recent promotions do not appear to be a sustainable strategy to drive property sales.

Posted November 1, 2019
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