from Zero Hedge
Following an unprecedented credit expansion by China, which in the first few months of 2016 injected well over a trillion dollars in total credit, the payback – as previewed here – is coming. As reported earlier, overnight China reported that a swath economic activity, from factory output to investment and retail sales, slowed last month, reflecting renewed weakness in China’s economy.
All three growth numbers announced by the National Bureau of Statistics Friday morning came in weaker than expectations and also slowed from June’s level. The Industrial Production rose 6.0%, compared to the median forecast of 6.2%. Fixed asset investment slowed to another 16-year low of 8.1% during the first seven months, missing the median forecast of 8.8%. Retail sales growth also decelerated to 10.2% in July, lower than the median forecast of 10.5%.