The brief encounter with a 'recovery' that China's economic data enjoyed in the first half of 2017 has evaporated as the reality of a collapsing credit impulse strikes across the board. Retail Sales, Fixed Asset Investment, and Industrial Production all missed expectations and slowed dramatically.
Tonight's big China data dump to ignore includes:
Retail Sales +10.1% YoY (+10.5% exp), well below July's 10.4% gain
Fixed Asset Investment +7.8% YoY (+8.2% exp), well below July's 8.3%...