China: Retail sales, IP, UI data beat expectations; need for stimulus? (San Francisco) - According to the National Bureau of Statistics of China, the world’s second largest economy has recorded better than expected Retail Sales, Industrial Production and Urban Investment numbers in the year to October. Retail Sales rose better than expected at 14.5% (14.0% cons.), up 0.3% from the previous reading, IP and UI have also beaten consensus expectations, coming in at 9.6% (9.4% cons.) and 20.7% (20.6% cons.), respectively. This positive data suggests that economists are likely to lower their bets for further PBoC stimulus.

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