Covid-19 weekly update – week ending October 19, 2020 – further signs of mild weakening among consumers

CHINA ADVISORY - Report 20 Oct 2020 by Andrew Collier

The trends continue of mild growth in the state sector and growing weakness in the consumer sector. Generally weakening growth in key consumer metrics, including auto sales, congestion, and mixed film attendance, suggest that the demand side is still a problem for China. Much of the recovery is being driven by fixed asset investment, which is underscored by property sales. A healthy market for rebar, glass for buildings, and cement prices all suggests that China continues to enjoy a “dual economy” –​ a strong state sector but a weak consumer sector.

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