October 2021 China Macro Data Recap

China’s industrial value-added and retail sales growth beat market expectations as the auto sector produced a smaller drag, but property sector indicators continued decelerating sharply, suggesting further weakness in cyclical activity in the next two quarters. Falling commodities imports produced a record monthly trade surplus, while China’s newest onshore COVID outbreak could extend restrictions on travel and services sector activity in the months ahead.

Posted November 15, 2021
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