CTRL-P June Generates Stat Bump

China boosted credit growth in June and it came with a bump in economic activity. I don't want to downplay a bump in many stats, but I do not expect it will last. Moreover several subcategories I've been watching deteriorated.

Looking under the hood of a bump to 6.3 percent industrial production growth in June, industrial robots declined 11 percent, more than the 10.1 percent YTD. Autos down, but steel, coal way up.

NBS: 2019年6月份规模以上工业增加值增长6.3%

NBS 70 City Housing Survey
New home prices rose 0.66 percent and the number of rising cities fell to 63.
Existing home prices rose 0.28 percent, number of rising cities was only 45.

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