Strong July activity indicators raise confidence that China growth is stabilising

HONG KONG - Following yesterday’s strong export/import figures, today’s release of monthly activity indicators for July provide additional evidence that growth is stabilising, says BBVA Bank.”In particular, industrial production rebounded to 9.7% y/y (consensus: 8.9%), fixed asset investment remained strong (20.1% vs. consensus: 20.0%), and retail sales held up (13.2% vs. consensus: 13.5%),” BBVA says.