China’s May data dump: Retail Sales and Industrial Output miss estimates
|China’s May Retail Sales YoY, the number arrived at +12.4% vs. +13.6% expected and +17.7% last, with Industrial Production YoY at +8.8% and +9.0% expected and +9.8% last.
Meanwhile, Fixed Asset Investment YoY stood at +15.4% vs. +16.9% expected and +19.9% last.
Additional details
Nationwide survey-based jobless rate at 5.0%.
China’s May survey-based jobless rate in 31 major cities at 5.2%.
China’s Jan-May private sector fixed-asset investment +18.1% YoY.
China’s Jan-May infrastructure investment +11.8% YoY.
Impact on AUD/USD
The downbeat Chinese macro numbers served, failed to deter the aussie dollar bulls. The AUD/USD pair keeps its range around 0.7700 on the data release, up 0.21% on the day.
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