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China Triple Hammering: Retail Sales Rise 8.5% Y/Y; Jan-July Fixed Investment Rise 10.3% - Industrial Output Rise 6.4% Y/Y
China triple hammering:
— zerohedge (@zerohedge) August 16, 2021
CHINA JULY RETAIL SALES RISE 8.5% Y/Y; EST. 10.9%
CHINA JAN.-JULY FIXED INVESTMENT RISES 10.3% Y/Y; EST. 11.3%
CHINA JULY INDUSTRIAL OUTPUT RISES 6.4% Y/Y; EST. 7.9%
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China’s retail sales growth slows more than expected in July
China released economic data for July that showed slower-than-expected growth. Retail sales rose by 8.5% in July from a year ago, lower than the forecast 11.5%, according to analysts polled by Reuters. Industrial production grew by 6.4%, also below expectations of a 7.8% year-on-year increase in July, according to the Reuters poll. Fixed asset investment for the first seven months of the year rose by 10.3%, below the forecast of 11.3% year-on-year growth for the January to July period, according to Reuters. Economists have cut their China GDP forecasts given the latest wave of travel restrictions and residential ... (full story)
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AUD/USD sellers attack 0.7350 on softer China Retail Sales, Industrial Production
AUD/USD refreshes intraday low to 0.7353, down 0.22% on the day, after China released headlines data on early Monday. The Aussie pair jumped the most in one week the previous day amid broad US dollar weakness but risk-off mood and downbeat statistics from Beijing weigh on the quote afterward. China’s Retail Sales for July eased to 8.5% YoY versus 11.5% expected and 12.1% prior. Further, Industrial Production also weakened below 7.8% market consensus and 8.3% previous readouts to 6.4% yearly during the stated month. In addition to the downbeat data from Australia’s biggest customer, AUD/USD also bears the burden ... (full story)
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National Economy Sustained the Momentum of Stable Recovery in July
In July, faced with the impact of multiple factors including the growing external uncertainties and the domestic COVID-19 epidemic and flooding situation, under the strong leadership of the Central Committee of the Communist Party of China (CPC) with Comrade Xi Jinping at its core, all regions and departments strictly implemented the decisions and arrangements made by the CPC Central Committee and the State Council, and effectively carried out the macroeconomic policies. As a result, China’s economy growth was in line with expectations, the employment and prices remained generally stable, a basic equilibrium was ... (full story)