China’s July Retail Sales and Industrial Output disappoint
|China’s July Retail Sales YoY, unexpectedly fall to 2.7% vs. 5.0% expected and 3.1% previous while Industrial Production YoY came in at 3.8% and 4.6% estimated and 3.9% prior.
Meanwhile, the Fixed Asset Investment YoY drops to 5.7% in July vs 6.2% expected and 6.1% last.
Earlier on, the House Price Index dropped 0.9% in July when compared to a 0.5% contraction seen in June.
Additional details
China July survey-based jobless rate for 16-24 years old at 19.9%, the highest on record.
China Jan-July property investment -6.4% YoY.
China Jan-July new construction starts -36.1% YoY.
Market reaction
The Australian dollar meets fresh supply on the release of the downbeat Chinese data. The AUD/USD pair is retreating to near 0.7110, down 0.13% on a daily basis.
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