China macro data suggest ongoing moderate slowing

Over the last week, China’s statistical office has released its macroeconomic data set for August. Indicators came in again mixed with some small positive and negative surprises, but overall the data confirmed the view of an ongoing mild slowing.

Highlights:

  • China’s August macroeconomic data set came in again more mixed, with an overall tendency of a further softening.
  • Especially, urban investment continued to weaken as some ongoing loosening of fiscal policy failed so far to lift infrastructure investment.
  • Export and import growth softened, but overall their levels are still very strong.
  • While last week US President Trump looked ready to impose another round of tariffs on Chinese imports, most recently the US offered new trade talks. We tend to remain sceptical about a positive outcome.

 Download the full publication below.

CHINA MACRO DATA SUGGEST ONGOING MODERATE SLOWING

RELATED INSIGHTS

GLOBAL VIEW – ENJOY SUMMER WHILE IT LASTS
As lockdowns have been lifted and global activity rebounded from the Q2 nadir, hopes of a strong recovery have helped risk assets advance further over July.
Generali Investments among preferred asset managers brands in Europe
Listen to the dedicated Podcast by Vincent Chaigneau, Head of Research, on our view on the economic recovery, new behaviours in the aftermath of the pandemic and the unique opportunities for a European fiscal and political integration.
PODCAST:
LIFE AFTER COVID -
THE LDI VIEW
Listen to the dedicated Podcast by Vincent Chaigneau, Head of Research, on our view on the economic recovery, new behaviours in the aftermath of the pandemic and the unique opportunities for a European fiscal and political integration.