China’s slowdown is finally on the tape, and we don’t have to engage in a debate about its probability of coming to fruition or not anymore. Chinese GDP was reported today at +10.1%. This is a sequential slowdown from the Q1 report of +10.6% year over year growth, and the second consecutive quarter of decelerating economic activity.
The Chinese Yuan reacted very negatively to the news, having its biggest down day since May 26th.
This of course, is better than bad for the US Dollar, which has been begging for a data point to go in its favor.
- Chinese Growth Has Slowed