- The y/y for real GDP growth accelerated in Q2 on the back of stronger services. This was in part due to base effects: the s.a. q/q rate slowed from 2.2% to 0.8% (page 2)
- Retail sales firmed in May and June (page 3)
- But income & employment expectations remain weak, and precautionary savings high (page 4)
- More positive industrial production numbers (m/m) for the last two months (pages 5 – 6)
- However, PMIs still very soft (pages 7 – 8)
- China flirts with deflation, as core CPI inflation weakens further (pages 9 – 10)
- PPI falling sharply across the board (page 11)
- Money supply growth slows (pages 12 – 13)
- While the debt burden keeps rising across households, non-financial corporations and government, as a share of GDP (page 14)
- Real estate investment still contracting, as home sales renew their slide (page 15)
- House prices also fell again in June (page 16)
- Exports slump: decline in bi-lateral trade surplus with US accelerates. But surplus for transport equipment (cars etc) expanding quickly (pages 17 – 24)
To download a pdf of this chartbook, click here
