China’s Jan-Feb Retail Sales jump 6.7%, Industrial Output leaps 7.5% – big beat
|China’s February Retail Sales YoY, arrived at 6.7% vs. 3.0% expected and 1.7% previous while Industrial Output YoY came in at 7.5% and 3.9% exp and 4.3% prior.
Meanwhile, the Fixed Asset Investment YoY leaps to 12.2% vs 5.0% expected and 4.9% last.
Additional details
China's economy created 1.63 mln new urban jobs in Jan-Feb.
China daily crude oil throughput in Jan-Feb hit lowest level since dec 2020.
China Jan-Feb private sector fixed-asset investment +11.4% YoY.
Market reaction
The Australian dollar cheers the big beat on the Chinese data, with the AUD/USD pair rebounding towards 0.7200. At the time of writing, the spot is trading at 0.7180, still down 0.10% on the day.
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