China’s National Bureau of Statistics (NBS) deputy chief comments:
- September
economic indicators showed positive changes - China’s foreign trade situation this year better than expected
- Foundation for economic recovery not solid yet
- Will speed up implementation of a basket of policy measures
The data from China today began with that showing
new
home prices fell at the fastest rate since 2015:
China’s 3Q GDP:
- China Q3 GDP 4.6% y/y (expected 4.5%) 0.9% q/q (expected 1.0%)
- slightly better than expected y/y
Retail sales much better than expected, and industrial output also:
The improvements in this last lot of data came for the period pretty much preceding the first ‘stimulus’ announcement (September 24). That’s encouraging. I guess China will argue the stimulus, which so many were disappointed in, is sufficient.
This article was written by Eamonn Sheridan at www.forexlive.com.
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