China's consumer & factory data miss expectations

Vishnu Varathan, Head of Economics and Strategy at Mizuho Bank share his insights on regional markets performance as well as talk about:

Key China-related data that was released this morning
China’s retail sales grew by 2.7% in July from a year ago. That’s well below the 5% growth forecast by a Reuters poll, and down from growth of 3.1% in June.
Industrial production rose by 3.8%, also missing expectations for a 4.6% growth and a drop from the prior month’s 3.9% increase.
Investment into real estate fell at a faster pace in July compared to June, whilst investment into the manufacturing sector slowed its pace of growth.
The unemployment rate among China’s youth, ages 16 to 24, was a high 19.9%. The unemployment rate across all ages in cities was 5.4%.
The People’s Bank of China lowered its one-year medium-term lending facility of 400 billion yuan ($59.3 billion) of loans to some financial institutions by 10 basis points to 2.75%,
Japan’s annualized gross domestic product grew 2.2% in the April-to-June quarter compared with the previous quarter. That’s lower than the expected 2.5% increase based on forecasts in a Reuters poll.
US inflation rate and the outlook for the USD – Key events, results and data points for the rest of this week that may move markets

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