Economic Data From China Comes Better Than Expected
October 18, 2012 3:09 am in China
Today’s economic data from China came out to be better than the expectations.
China GDP Growth:
Today’s data showed an expected decline in the year on year GDP growth during the 3rd quarter. The previous change was 7.6% and the consensus was for a drop to 7.4% and released figure was in line with the consensus. On the other hand the quarter on quarter change in the GDP during the 3rd quarter was 2.2% and was quite better than the expectations and also the previous change of 1.8%.
Chinese Industrial Production
The industrial production in China rose in September. The year on year growth in the industrial production came out to be 9.2% while the expectations were for 9.0% i.e. slightly better than the previous change of 8.9%.
Chinese Retail Sales again jumped up in September. The economic data for retail sales showed a jump of 14.2% against the previous year’s figure of 13.2%. The consensus was that the growth will remain the same.
The year to date Urban investment on year on year basis also saw a rise like GDP. The figure was 20.5% and came out as positive as compared to the expectations and previous 20.2%.
What to Expect:
The commodity currencies like Australian and Canadian Dollars should get further strength and the recent trend of change in the AUD and CAD pairs should continue.