Chinese Economic Data Results
1. Trade Data (Exports and Imports) - % change YOY from July to August
Exports Previous 38.1% Actual 34.4%
Imports Previous 22.7% Actual 35.2%
2. CPI & PPI
CPI Previous 3.3% Actual 3.5%
PPI Previous 4.8% Actual 4.3%
3. Retail Sales Previous 17.9% Actual 18.4%
4. Industrial Production Previous 13.4% Actual 13.9%
5. Fixed Asset Investments Previous 24.9% Actual 24.8%
6. Loan Growth Previous 532.8 billion yuan Actual 545.2 billion yuan
COMMENT - Saturday morning, September 11, 2010: economic data released for China is further evidence that a "soft landing" is being engineered by Chinese central bankers. No evidence remains in the data to suggest a much feared "hard landing." Demand for credit from the business sector was strong, as was domestic consumer demand.
This data is not a referendum on the Chinese equities market, but rather support for my belief that "When the G-3 catches a cold, the developing world no longer gets pneumonia. Instead, it feeds the G-3 chicken soup!"