Data from China for August economic activity was terrible. Weak consumption was reflected in very slow retail sales growth. A previous bright spot, industrial production, decelerated also.Youth unemployment remained wedged at 17.1%Home prices slumped at their sharpest rate in a year. My post from the weekend included bizarrely upbeat comments from China's National Bureau of Statistics (NBS):China August: Retail sales +2.1% y/y (expected +2.5) Industrial production +4.5% y/y (4.8)It looks like Temu has seen a rush on these. Not surprising after that data. This article was written by Eamonn Sheridan at www.forexlive.com.
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