Tonight a series of data from China for the month of November has been published. These include industrial production (with power outages and supply problems lingering like headwinds) and retail sales.
The results are the following:
- Retail Sales for November in China: 3.9% YoY, falling from 4.9% previously and below the 4.6% expected.
- China’s industrial production in November: 3.8% year-on-year, above the 3.6% expected and rising from 3.5% the previous month.
About Chinese data
Industrial production is published by the National Bureau of Statistics of China measures the production of Chinese factories. An uptrend is considered inflationary, which would prompt the People’s Bank of China to contract monetary policy and fiscal risk policy. Generally a favorable reading is positive or bullish for the CNY, while an unfavorable reading is negative or bearish.
The retail sales report, published by the China National Statistical Office, counts all receipts for consumer goods sold. It reflects the total goods that the different industries provide to households and social groups through different means. It is an important indicator for studying changes in the Chinese retail market and reflects the degree of economic prosperity. In general, a favorable reading is considered positive or bullish for the CNY, while an unfavorable reading is considered negative or bearish.
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