15 Aug 2025

😨 China’s economy slowed across the board in July with factory activity and retail sales disappointing, suggesting the world’s No. 2 economy is losing traction

‼️ China Retail Sales rose 3.7% Y/Y in July, well below consensus of 4.6%. This is the weakest reading since November 2024. On a month-over-month basis, retail sales declined for a second consecutive month, by -0.1%. ‼️China Industrial Production rose 5.7% Y/Y in July, missing consensus of 5.9% and slowing from June's 6.8%. This marks the weakest pace of growth since January. The sequential M/M growth rate also slowed to 0.4%. 🔴 China Economic data👇 ▶️ July retail sales 3.7% y/y [Est.4.6%] ▶️July industrial growth 5.7% y/y [Est.5.9%] ▶️Jan-Jul fixed asset investment 1.6% y/y [Est.2.7%] ▶️ July Unemployment 5.2% [Prev. 5.1%] Note that while China's industrial production continues to run well above the pre-COVID trend, real retail sales have diverged further away from the pre-COVID trend. Source: Augur Infinity

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