China Beats Across The Board With August Activity Data. Yuan Strongest Since Huawei Ban

China on Tuesday reported activity data for August that beat expectations, helping to cement the narrative that the world's second largest economy has moved beyond the pandemic. Industrial output, which began posting gains again starting in April, rose 5.6% YoY, beating consensus which was looking for a 5.1% increase. Fixed asset investment came in basically in-line, while the surveyed jobless rate fell to 5.6%. More notably, retail sales managed a 0.5% gain. It was the first rise since the on