ICYMI, China's poor Q2 GDP data is here in this post, a miss for both q/q and y/y:China June Industrial output +5.3% y/y (expected +5.0%) Retail sales +2.0% (3.3%% exp)The reasons behind relatively slow growth in China are not mysterious:protracted property downturnthe property sector is debt-riddenhousehold consumption is weakThe poor data will intensify calls for further stimulus measures. The third plenum is this week:China's plenum meeting in July will focus on the economyThe third plenum is an important meeting of Chinese Communist Party leadership meeting. It starts today, Monday, and will try to balance boosting growth and cutting debt. China is aiming for growth of 'around' 5% this.
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