China’s May Retail Sales and Industrial Output increase but miss estimates
|According to the latest data published by the National Bureau of Statistics (NBS) on Thursday, China’s May Retail Sales YoY, rose 12.7% vs. 13.6% expected and 18.4% previous while the country’s Industrial Production came in at 3.5% YoY vs. 3.6% estimated and 5.6% prior.
Meanwhile, the Fixed Asset Investment increased 4.0% YTD YoY in May vs 4.4% expected and 4.7% last.
Additional takeaways
China Jan-May private sector fixed-asset investment -0.1% YoY.
China Jan-May infrastructure investment +7.5% YoY.
Market reaction
The Australian Dollar is showing resilience to the downbeat Chinese data release, as AUD/USD is keeping its recovery momentum intact. The AUD/USD pair is losing 0.06% on the day to trade at 0.6790, as of writing.
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