China’s GDP sees a record expansion of 18.3% YoY in Q4 2020 vs 18.9% expected, AUD/USD unfazed
China's annualized GDP figures for the fourth quarter of 2020 arrived at 18.3% vs. 18.9% exp and 6.5% previous, with the QoQ reading coming in at 0.6% vs. 1.5% exp and 2.6% last.
With regard to retail sales YoY, the number was 34.2% vs. 28.0% exp and 33.8% previous, with industrial output YoY at 14.1% and 17.2% exp and 35.1% prior.
Meanwhile, the fixed asset investment YoY stood at 25.6% vs 25.3% expected and 35.0% last.
Additional details
Q1 2021 GDP +10.3% from Q1 2019.
Revises Q4 2019 GDP to 3.2% QoQ vs. 2.6% QoQ.
Nationwide survey-based jobless rate at 5.3%.
March survey-based jobless rate in 31 major cities at 5.3%.
Economy created 2.97 million jobs in Jan-March.
Market reaction
The mixed data had a limited impact on the Australian Dollar, with the AUD/USD pair maintaining the offered tone near 0.7735 levels while AUD/JPY keeps its range near 84.15.
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.
