China’s is clearly having its own slow-down in expansion, just as the U.S. is. June industrial output data shows slowing growth, though given that this is China, slower growth is still pretty fast:
In June, value-added output from large scale industries increased 13.7 per cent from the same period last year, down 2.8 percentage points from May. At the same time, total power consumption and power production had slower growth. Due to the decrease of industrial power demand and the large basis late last year, the year-on-year growth of China’s power production and consumption are expected to continue slowing in the short term.
This is probably a healthy decline in growth.