China’s August Retail Sales and Industrial Output surprise positively
China’s August Retail Sales YoY, unexpectedly jumped to 5.4% vs. 3.5% expected and 2.7% previous while Industrial Production YoY came in at 4.2% and 3.8% estimated and 3.8% prior.
Meanwhile, the Fixed Asset Investment YoY rises to 5.8% in August vs 5.5% expected and 5.7% last.
Earlier on, the House Price Index dropped 1.3% YoY in August when compared to a 0.9% decline seen in July. The monthly slump in prices was recorded at 0.29%.
Additional details
China Aug nationwide survey-based jobless rate at 5.3%.
China Aug survey-based jobless rate in 31 major cities at 5.4%.
China's economy created 8.98 million new urban jobs in Jan-Aug.
China Aug survey-based jobless rate for 16-24 years old at 18.7%.
Market reaction
The Australian dollar remains unfazed by the release of the unexpectedly strong Chinese data. The AUD/USD pair is holding steady on the day at 0.6700, as of writing.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
