Q2 2018 China Macro Data Recap

China’s Q2 macroeconomic data showed an economy continuing to decelerate under pressure from tightening credit conditions and weakening corporate investment and capital expenditures, although GDP growth ticked down only slightly to 6.7% y/y. June credit data showed continued weakness in shadow banking activities, with the sharpest drop in non-loan credit in history. Imports remained resilient even outside of commodities, although there were signs of front-loading trade activity ahead of the implementation of tariffs.

Posted July 17, 2018
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