{"id":11821,"date":"2019-09-23T14:28:05","date_gmt":"2019-09-23T13:28:05","guid":{"rendered":"https:\/\/lazardfreresgestion-tribune.fr\/?p=11821"},"modified":"2019-09-25T14:50:59","modified_gmt":"2019-09-25T13:50:59","slug":"china-mixed-signals-from-the-economy","status":"publish","type":"post","link":"https:\/\/latribune.lazardfreresgestion.fr\/en\/china-mixed-signals-from-the-economy\/","title":{"rendered":"China: Mixed signals from the economy"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">CHART OF THE WEEK<\/h2>\n\n\n\n<p>August\u2019s economic data, which were published on September 16th, fell short of expectations. While markets had been looking for a rebound following a disappointing July, August\u2019s numbers only served to indicate further slowdowns in industrial production, retail sales and investment. <\/p>\n\n\n\n<p>The breakdown shows that manufacturing investment and car sales were particularly sluggish. The rest of the economy is holding up better, with healthy property investment, rebounding infrastructure investment and recovering retail sales (excluding cars). The slowdown in industrial production was, according to the National Bureau of Statistics, partly due to bad weather in eastern China.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1020\" height=\"569\" src=\"https:\/\/lazardfreresgestion-tribune.com\/wp-content\/uploads\/\/2019\/09\/25092019.png\" alt=\"\" class=\"wp-image-11848\" srcset=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2019\/09\/25092019.png 1020w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2019\/09\/25092019-300x167.png 300w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2019\/09\/25092019-768x428.png 768w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2019\/09\/25092019-600x335.png 600w\" sizes=\"auto, (max-width: 1020px) 100vw, 1020px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>OUR ANALYSIS<\/strong><\/h2>\n\n\n\n<p>China\u2019s\nweaker July and August data raise fears that growth will falter once again in\nthe third quarter. Those fears are being compounded by the fact that\nSeptember\u2019s data could be affected by pollution restrictions implemented ahead\nof the 70th anniversary of the People&#8217;s Republic of China. <\/p>\n\n\n\n<p>On a more positive note, the rebound in infrastructure investment is encouraging because it could indicate that the effects of government stimulus are starting to feed into the real economy. The measures should cushion the negative economic impact of the trade war, although just how much difference they can make remains to be seen.<\/p>\n\n\n\n<p><em>The opinion expressed above is dated September 20<\/em><sup><em>th<\/em><\/sup><em>, 2019, and liable to change.<\/em><\/p>\n\n\n\n<p><span style=\"color: #333333; font-family: 'Arial',sans-serif; font-size: 8pt;\">This document is not pre-contractual or contractual in nature. It is provided for information purposes. The analyses and descriptions contained in this document shall not be interpreted as being advice or recommendations on the part of Lazard Fr\u00e8res Gestion SAS. This document does not constitute an offer or invitation to purchase or sell, nor an encouragement to invest. This document is the intellectual property of Lazard Fr\u00e8res Gestion SAS.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>August\u2019s economic data, which were published on September 16th, fell short of expectations. While markets had been looking for a rebound following a disappointing July &#8230;<\/p>\n","protected":false},"author":101016,"featured_media":11828,"comment_status":"closed","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[148],"tags":[],"class_list":["post-11821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chart-of-the-week"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>China: Mixed signals from the economy &#8211; Tribune Lazard Fr\u00e8res Gestion<\/title>\n<meta name=\"description\" content=\"China: Mixed signals from the economy Chart of the week Tribune Lazard Fr\u00e8res Gestion\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/latribune.lazardfreresgestion.fr\/en\/china-mixed-signals-from-the-economy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China: Mixed signals from the economy &#8211; 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