July 2021 China Macro Data Recap

July macroeconomic data indicated China’s economy is facing weakening cyclical momentum on multiple fronts, including property and infrastructure construction, the auto sector, and consumer activity. Commodity imports declined virtually across the board, contributing to slowing import growth.  Consumer and producer inflation surprised on the high side, with CPI growth linked to services prices, but  price growth should fade given new virus-related transportation restrictions.

Posted August 16, 2021
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