China GDP disappoints, third-quarter growth slows to 4.9%
From cnbc.com
China’s third-quarter GDP grew a disappointing 4.9% as industrial activity rose less than expected in September. The National Bureau of Statistics said Monday that gross domestic product grew 4.9% in the third quarter from a year ago. That missed expectations for a 5.2% expansion, according to analysts polled by Reuters. Industrial production rose by 3.1% in September, below the 4.5% expected by Reuters. However, retail sales beat expectations, rising 4.4% in September from a year ago. The Reuters poll predicted 3.3% growth. Fixed asset investment for the first three quarters of the year came in weaker than expected, ...
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China Property and Energy Crises Deliver Blow to GDP Growth
From bnnbloomberg.ca
China’s economy slowed in the third quarter as multiple headwinds from a property slump to an energy crisis weighed on growth. Gross domestic product expanded 4.9% from a year earlier, the National Bureau of Statistics said Monday, down from a previously reported 7.9% in the preceding quarter and compared with a median forecast of 5% in a Bloomberg survey of economists. Beijing’s tighter restrictions on the property market have curbed construction activity and squeezed financing to the sector. Meantime, a worsening debt crisis at China Evergrande Group is now spilling over to other developers and contributing to a ...
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AUD/USD remains confined in a range, around 0.7400 post-Chinese macro data
From fxstreet.com
The AUD/USD pair extended its sideways consolidative price action and remained confined in a narrow trading band, around the 0.7400 mark post-Chinese data dump. The pair struggled to capitalize on its early uptick back closer to over one-month tops touched on Friday and witnessed a modest pullback from the 0.7435 region on the first day of a new week. The prevalent cautious mood around the equity markets was seen as a key factor that acted as a headwind for the perceived riskier aussie amid a subdued US dollar price action. This, along with weaker than expected Chinese macro releases, collaborated to cap the upside ...
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