- China’s May Retail Sales and Industrial Output increase but miss estimates
Market news
15 June 2023
China’s May Retail Sales and Industrial Output increase but miss estimates
According to the latest data published by the National Bureau of Statistics (NBS) on Thursday, China’s May Retail Sales YoY, rose 12.7% vs. 13.6% expected and 18.4% previous while the country’s Industrial Production came in at 3.5% YoY vs. 3.6% estimated and 5.6% prior.
Meanwhile, the Fixed Asset Investment increased 4.0% YTD YoY in May vs 4.4% expected and 4.7% last.
Additional takeaways
China Jan-May private sector fixed-asset investment -0.1% YoY.
China Jan-May infrastructure investment +7.5% YoY.
Market reaction
The Australian Dollar is showing resilience to the downbeat Chinese data release, as AUD/USD is keeping its recovery momentum intact. The AUD/USD pair is losing 0.06% on the day to trade at 0.6790, as of writing.
Market Focus
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