Economic calendar in Asia 16 December 2024 – China economic activity data for November

The Chinese data due Monday will be of the most focus. The ‘economic activity’ data include key indicators retail sales, industrial production and fixed asset investment. We get the November numbers today at 0200 GMT, which is 2100 US Eastern time (Sunday evening).

In October 2024, China’s key economic indicators presented a mixed picture:

• Retail Sales: Increased by 4.8% year-on-year, up from 3.2% in September, marking the fastest growth since February. This surge was attributed to consumer spending during the Golden Week holiday and the Singles’ Day shopping festival.

• Industrial Production: Grew by 5.3% year-on-year, slightly below September’s 5.4% and missing the anticipated 5.6% rise. This indicated a modest slowdown in manufacturing output.

• Fixed Asset Investment: Rose by 3.4% in the January-October period compared to the same period in 2023, consistent with the growth rate from January to September but slightly below the expected 3.5%. This suggests steady but subdued investment in infrastructure and property sectors.

These figures highlight the challenges facing China’s economy, which includE

• a sluggish property market
• and potential external pressures from international trade policies.

Analysts suggest that additional fiscal and monetary measures may be necessary to sustain economic growth in the coming months. Last week we got some positive noises from around the work conference,

• China announces that it is about to hit 2024 economic growth target

but we’ll have to wait until March, and the National People’s Congress, for specifics.

• This snapshot from the ForexLive economic data calendar, access it here.
• The times in the left-most column are GMT.
• The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.

This article was written by Eamonn Sheridan at www.forexlive.com.