This China Chart Is Making Everyone Scream 'Hard Landing' Today

The big news out of China: A major miss on industrial production growth.

From Nomura:

Industrial production (IP) growth dropped sharply to 9.3% y-o-y in April from 11.9% in March (Consensus 12.2%, Nomura 12.1%, Figure 1). This slowdown was not due to a base effect. According to the National Bureau of Statistics, on a month-on-month seasonally adjusted basis, IP grew by only 0.35% in April (annualized growth rate of 4.2%). Output data across industries appears to be sending mixed signals, as steel and automobile production both picked up in April while electricity, cement, and oil production fell.

image

Photo: Nomura

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

china moneygame-us