China August retail sales +5.4% y/y (expected +3.5%), industrial production +4.2% (3.8%)


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%

more soon

After:

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%

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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.


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