China Macro Data Misses Across The Board In July, Worst Since 2016

Tyler Durden's picture

Confirming the credit impulse peak is passed (June's surprise beats), China's July macro-economic data is ugly. Retail Sales, Industrial Production, and Fixed Asset Investment all fell and missed notably. For now the reaction is absolutely nothing...

National Bureau of Statistics reports some ugly data for July:

  • China July Industrial Output MISS Rises 6.4% Y/y; Est. 7.1% (range 6.5%-8.7%, 37 economists)
  • Fixed-asset investment excluding rural households MISS up 8.3% y/y in Jan.-July; est. 8.6% (range 8.4%-9.3%, 35 economists)
  • July retail sales MISS rose 10.4% y/y; est. 10.8% y/y (range 9.5%-11.5%, 37 economists)

China data is the weakest since 2016...

We wonder just how bad it will get...

For now there is zero reaction anywhere as it appears traders are numb to global nuclear war concerns, epic Japanese growth, and dismal Chinese data.

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Cluster_Frak's picture

it's just a smoke screen, so Trump backs off. All is well in China. Weapon sales to North Korea are booming.

JB Say's picture

Self reported by the chicoms lol. Signals far worse to come as they try to land gently.

GUS100CORRINA's picture

China Macro Data Misses Across The Board In July, Worst Since 2016

My response: The CHINESE government just went OOPS!!!!! The moment of TRUTH for CHINA has arrived!!!

yogibear's picture


Means more QE, currency from thin air.

Party-on. Unlimited financial heroin.

TheEndIsNear's picture

An upvote just because you made me laugh, something that rarely occurs when reading ZH.

MuffDiver69's picture

Sure would like those misses

Yen Cross's picture

 Keep those fake emerging markets flows coming.  There's so much demand for "emerging markets" trinkets.  </sarc>

RumpleShitzkin's picture

Nice weather report on the eve of Dons big ass trade war.

Sniker, sniker. Like we haven't been on the losing side of this trade war since it started.

Kublai's picture

Bigger losses to come. Just another "war" the USA can't and won't win. Bye bye miss American pie...

What's it going to take to get you Americans to finally wake up and string up a dozen or two politicians and banksters? Please leave McCain to die a long slow, painful one.

Let it Go's picture

All the new money and credit China has been pumping into the system is not getting the job done. China is no small underdeveloped backwater with an insignificant economy and it is important to remember that "what happens in China does not stay in China." Growth in China has been fueled by its government expanding the money supply and debt, that is distorting markets across the world.

This extends to things like causing housing prices to soar in many parts of Canada. This is why it is so baffling that many economists have chosen to ignore or given a pass to the ramifications of China's policies as they affect the big picture. More on China's economy below;

Yen Cross's picture

  I've seen situations like this before.  All the natives get along until the Chief gets challenged, by a bigger Gorilla.

   The current Chief circles his/her weakest Disciples, in order to verify His/Her madness, while the Helicoptors are waiting on roof~tops.

Hongcha's picture

China indices all green tonight :)

Kenny Drebson's picture

china never wants to be the best... it just wants to be perceived as being the best.  it all goes back to their hosting of the olympics when they had that cute girl lipsync on camera during opening ceremonies while an uglier girl w/ mangled teeth actually sang the song on an earlier recording.

also, their useless, uninhabited ghost cities come to mind.

all for the sake of 'seeming' to be the best.

GotAFriendInBen's picture

For now the reaction is absolutely nothing...



algos only get startled when the power goes out

Zepper's picture

Fuck China!!! The worlds BIGGEST leach! 300+ billion dollar surplus just with the U.S. I wonder how much it is with the rest of the world?


Thank Billy Clinton the Republican Party and Obama for allowing this to continue as well as that fucking dolt that paints portraits now in Texas when he should be tried for warcrimes.

Yen Cross's picture

 For Christs sakes, The Fed and all it's financial vassals, could easily uptakes flows from  PBoC holdings.

  THE reason the Yuan exists, is because it's backed by petro$'s.

  China can unload every single Treasury note/bond across the curve. I dare them!!!  THe [Yuan] would colapse in minutes.

 Are you  listening Zuckerfuck, and Musk.

  One guy, I respect, but think is an asshole, is Larry Ellison. That asshole has been creating lots of turmoil, and people just don't see it.

 He's been fucking with OS and Browsers on a regular basis!~

TheEndIsNear's picture

Yen Cross said: "China can unload every single Treasury note/bond across the curve. I dare them!!! THe [Yuan] would colapse in minutes."

Not if they backed the Yuan with gold.

TheEndIsNear's picture

yea, but think of all the cheap shit we are able to buy from China that falls apart within weeks.

FederalReserveBankofTerror's picture

Cue the VIX slam for options expiration exit/sell to close on Wednesday for call buyers, then letting the door slam behind them on Thursday and Friday. Yawn... GoT was great tonight. Milk and cookies then bedtime. Sweet Dreams.

Seasmoke's picture

Isn't it already Monday in China ??? Get those sanctions going Donald J. 

jadan's picture

Funny how the round eyes have such faith in their analytics and understand nothing at all about the CCP or the Chinese economy. We all know that the free market is an adolescent fantasy, but it is more free in the west where the white devils bugger each other exuberantly. The CCP undetrstands that such freedom leads to chaos so they create a MARKET ECONOMY that is just a Potenkim village. This pleases the rude imperialist war mongers who then sneer at economic numbers their brainwashed lackey spies give them. All praise to Deng, the Great Liberator!

Yen Cross's picture

 And then there's the Brent trade?  Which is back in contango<

  massive eur/jpy LONG covering taking place. [ hedges unwinding]

GoldHermit's picture

This house of cards is going to come down sooner or later. One of the biggest problems is that many American companies have come to rely on them quite a bit.

ReturnOfDaMac's picture

Ever wonder what if the west's house comes down first?

Pernicious Gold Phallusy's picture

Just click once, and be patient.

GoldHermit's picture

Indeed. I have a pretty negative outlook on most areas right now. It's all so linked that one triggering event will set off a firestorm. Banks think they have hedged counterparty risk, but I think they are in for a rude awakening. A lot of smart people and certain governments are buying gold and silver and that tells me a lot

rp2016's picture

Hey ZH, you are still here... you must be in a safe hiding place... I am locked an loaded.

Several deaths have already taken place... don't you think they are all on you? Where are the war leaders?

I have been waiting LOCKED AND LOADED.

Yen Cross's picture

  Those three charts look, like like[the dust] from a bag of flower?