China’s Key Activity Data Misses Across The Board

Outside of jitters about the durability of the US recovery in the face of surging consumer prices and the spread of the Delta variant, there's no bigger concern for macro watchers than the prospect of a marked deceleration in China. Admittedly, that opening sentence doesn't tell you very much. After all, the economic outlook for the US and China is always top of mind, because those are the two largest economies on the planet. But currently, each faces a unique set of circumstances, with varyin