Overnight press: "China slowdown puts Beijing in a bind" via ForexLive

Mmmm, yeees ….

Mike had some of this earlier, here (including a very useful link to Reuters on the data)

Fixed Assets Ex Rural YTD y/y for August, +16.5%

• expected 16.9%, prior was 17.0%

Retail Sales YTD y/y for August,+12.1%

• expected 12.2%, prior was 12.1%

Retail Sales y/y for August,+11.9%

• expected 12.1%, prior was 12.2%

Industrial Production YTD y/y for August,+8.5%

• expected 8.8%, prior was 8.8%

Industrial Production y/y for August, 6.9%

• expected 8.8%, prior was 9.0%

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Adam had this: China reluctant to cut reserve requirement – MNI

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Now, from the Wall Street Journal overnight … (gated) … China's Economic Slump Complicates Beijing's Restructuring Plans

It goes on:

• Economists said Beijing must decide in coming weeks whether to hang tough or, should economic momentum weaken further, opt for more dramatic pro-growth measures.
• These might include a general interest-rate cut or a broad-based reduction in the capital that banks keep on deposit with monetary authorities.
• “There's a bottom level they won't tolerate,” said Julian Evans-Pritchard, an economist with Capital Economics. “But we haven't hit it yet.”

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I can't help but think such data as the IP over the weekend, should it continue like that, will prompt wider stimulus.

posted via ForexLive