A quick chart before markets receive GDP, industrial production, retail sales and fixed-asset investment numbers from China tomorrow

A quick chart before markets receive GDP, industrial production, retail sales and fixed-asset investment numbers from China tomorrow. Obviously the August data came as a shock and not much improvement is expected tomorrow. In YoY terms Q3 GDP is expected to print at 7.2%, down from 7.5% in Q2, with retail sales and fixed-asset investment also expected to slow to 11.7% and 16.3% respectively. The one bright spot is tipped to be industrial production which is expected to rebound to 7.5% from 6.9% in August. While global growth concerns rattled markets last week, given dovish language from Central Banks and ongoing rumours that the PBoC will cut interest rates near-term, whether strong or weak, it may well me a case of 'risk on' no matter that the outcome tomorrow.