China’s economic activity slowed down with factory output and retail sales growth missed expectations in July
Retail sales expanded 8.5 percent in July from a year earlier, lower than the 10.9% predicted by economists and unemployment rose to 5.1 percent.
U.S. consumer confidence fell in early August, largely due to the Delta variant with Asia’s supply chains now disrupted.
Consumption is also copping it thanks to targeted lockdowns.
Beijing has a zero covid target, meaning health is put before the economy.
