China's retail sales, industrial production and fixed investment was disappointing
China's retail sales, industrial production and fixed investment was disappointing in August. Retail sales slowed to a 10.1% y/y pace in August from the 10.4% rate of expansion in July. But year to date retail sales growth was 10.4% in August, matching July. Industrial production growth was 6.0% y/y in August versus the 6.4% rate in July. But year to date production dipped to 6.7% from 6.8%. Fixed investment (excluding rural households) slowed to a 7.8% y/y growth pace in August from 8.3% in July. But foreign direct investment did improve to a 9.1% y/y pace in August from 2.3% in July, after contracting 3.7% in May and falling 4.3% in April. The CSI 300 is 0.1% firmer, the Shanghai comp is also 0.1% in the green while the Shenzhen comp is up 0.2%.