China's data dump: Beat on expectations across the board
|China's August data dump came higher-than-expected, with industrial production at 6.3% y/y vs 6.1% expected and 6% last. Retail sales stood at 10.6% y/y vs 10.3% expected and 10.2% prior. Fixed asset (excluding rural) investment was 8.1% y/y vs 7.9% exp and 8.1% last. As per urban investment, it came at 6.1% vs 8% exp. The data is a positive input for the Australian Dollar, which has appreciated by a handful of pips across the board.
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