Every recent economic report out of China comes with disappointment.
The retail sales chart above highlights China's ongoing challenge in shifting from an export-driven economy to a consumer-based economy.
If retail sales continue to disappoint, it will weigh heavily on ETFs such as the Global X China Consumer ETF (CHIQ | B-39).
However, retail sales aren't the only disappointing economic results coming out of China this year:
PPI and CPI data have been weak, indicating lower-than-expected demand from business and consumers
Exports have fallen off: Although a drop in exports is welcomed as the government attempts to wane the economy from its export-dependency, the declines have far exceeded expectations and may point to a "hard landing."
Industrial production recently "missed" expectations by the most in recent memory.
Fixed-asset investment is at its lowest level in more than a decade.
Official government PMI figures are barely expansionary, and alternative measurements—such as those produced by HSBC and Markit—indicate contraction.
Cumulatively, the weak data will weigh heavily on some of the most popular China ETFs: