News Snapshot:
Industrial output and retail sales data in July released on Monday (16 August) are pointing to economic slowdown in China in the current quarter, particularly when supply chain bottlenecks and rising prices of raw materials are taken into account. Factory output in July rose 6.4% year-on-year, the lowest growth rate in 11 months and below market consensus of 7.8%, according to tradingeconomics.com . In June, the industrial output rose 8.4%. Iris Pang, Greater China economist at ING, noted that semiconductor shortages caused automobile manufacturing to contract 8.5%. The impact was less pronounced on computer manufacturing, which slowed to 13.0% from...
