Consumption outlook positive despite weak October macro data print
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China’s economy is slowing on all fronts – but there’s a consumption-shaped silver lining.
Per data released by the stats bureau (NBS) on November 14, industrial value-added (IVA) grew 4.9% y/y in October, down from 6.5% the previous month.
Private IVA only grew 2.1% y/y, while output from state-ow...