China’s November Retail Sales slump 5.9%, Industrial Output rises 2.2%
China’s November Retail Sales YoY, slumped 5.9% vs. 3.6% expected and -0.5% previous while the country’s Industrial Production came in at 2.2% YoY vs. 3.6% estimated and 5.0% prior.
Meanwhile, the Fixed Asset Investment dropped to 5.3% YoY in November vs 5.6% expected and 5.8% last.
Key takeaways (via NBS)
China's economy maintained recovery trend in nov despite multiple pressures.
Foundation of economic recovery still not solid.
Market reaction
The Australian dollar remains unfazed by the downbeat Chinese data release. The AUD/USD pair is licking its wounds near 0.6850, down 0.25% on the day, 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.
