Economist at UOB Group Ho Woei Chen, CFA, assesses the latest set of Chinese data releases.

Key Points

“China’s July data shows the economy slowing further as the outbreak of COVID-19 Delta variant since mid-July in a number of cities as well as floods in the country are sapping the growth momentum. This has hit the private consumption recovery particularly hard.”

“Retail sales, industrial production, fixed asset investment (FAI) as well as jobless rate were all weaker than expected in July.”

“Taking into account of the weaker than expected July data and increasing growth headwinds, we downgrade our forecast for China’s 2021 GDP growth to 8.6% from 9.1% with 3Q21 at 5.7% y/y and 4Q21 at 5.1% y/y respectively (1Q21 at 18.3% and 2Q21 at 7.9%).”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

AUD/USD Price Analysis: Bounces on Double Bottom, bullish reversal needs more filters

AUD/USD Price Analysis: Bounces on Double Bottom, bullish reversal needs more filters

The AUD/USD pair is going through a correction phase after facing barricades around 0.6920 in the New York session. The asset displayed some signs of reversal on Thursday after finding bids while testing two-week-old support at 0.6850.

AUD/USD News

USD/JPY inches towards 136.00 on higher-than-expected Unemployment data

USD/JPY inches towards 136.00 on higher-than-expected Unemployment data

The USD/JPY pair is aiming towards 136.00 as the Statistics Bureau of Japan has reported higher-than-expected Unemployment data. 

USD/JPY News

Gold Price Forecast: XAU/USD struggles to defend $1,800 as DXY rebounds ahead of US ISM PMI

Gold Price Forecast: XAU/USD struggles to defend $1,800 as DXY rebounds ahead of US ISM PMI

Gold Price (XAU/USD) holds onto the previous day’s bearish bias, despite taking rounds to the multi-day low surrounding $1,805 during Friday’s Asian session.

Gold News

One of the most iconic American rappers is bullish on Ethereum despite recent price slump

One of the most iconic American rappers is bullish on Ethereum despite recent price slump

Snoop Dogg and his son Champ Medici are one of the most prominent celebrities in the Ethereum NFT ecosystem. Dogg argues that the bear market is weeding out all the people who are not supposed to be in the space.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Forex MAJORS

Cryptocurrencies

Signatures