FAST FIVE: China Q3 GDP Growth Disappoints, Slides To New Record Low
China Q3 GDP Growth Disappoints, Slides To New Record Low It's that time of the month again.
The 8.5% slide in imports was particularly worrying.
Source: Bloomberg The point being, no matter how 'bad' tonight's China data is, a broad-based RRR-cut stimulus package is not high on the CCP's agenda as Xi would prefer the social unrest in Hong Kong does not spread to the ruralities of the mainland as food-shortages spark chaos.
China GDP YoY +6.0% YoY MISS (+6.2% prior, +6.1% exp) China Industrial Production YoY +5.6% BEAT (+5.6% prior, +5.5% exp) China Retail Sales YoY +7.8% MEET (+7.5% prior, +7.8% exp) China Fixed Asset Investment YoY +5.4% MISS (+5.5% prior, +5.5% exp) China Property Investment YoY +10.5% (+10.5% prior) China Surveyed Jobless Rate 5.2% (5.2% prior) China Jan.-Sept.
Source: Bloomberg The initial reaction in markets was unsurprising – US equity futures rallied.