- China’s August annual Retail Sales rise 4.6%, Industrial Production jumps 4.5% – a big beat
Market news
15 September 2023
China’s August annual Retail Sales rise 4.6%, Industrial Production jumps 4.5% – a big beat
The latest data published by the National Bureau of Statistics (NBS) showed Friday, China’s August Retail Sales , rose 4.6% YoY vs. 3.0% expected and 2.5% previous while the country’s Industrial Production came in at 4.5% YoY vs. 3.9% estimated and July’s 3.7%.
Meanwhile, the Fixed Asset Investment increased 3.2% YTD YoY in August vs 3.3% expected and 3.4% reported in July.
Additional takeaways
China Jan-Aug private sector fixed-asset investment -0.7% YoY.
China Jan-Aug infrastructure investment +6.4% YoY.
China Jan-Aug property investment -8.8% YoY.
Market reaction
The Australian Dollar is cheering the encouraging Chinese data release, as AUD/USD is keeping its recovery momentum intact. The AUD/USD pair is adding 0.35% on the day to trade at 0.6463, as of writing.
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