China activity data for August 2022.
A series of beats with the top 3 titles all beating the central median estimates.
The polled unemployment rate of 5.3% is also a beat
- expected 5.4%, before 5.4%
Retail sales since the start of the year +0.5% y/y
- expected +0.2%, before -0.2%
Year-to-date industrial production +3.6% y/y
- forecast is 3.6%, before 3.5%
Official data shows stronger than expected. In the short term, official data is what we have to rely on. More independent sources will dispute the figures.