China’s August Retail Sales and Industrial Output surprise positively
|China’s August Retail Sales YoY, unexpectedly jumped to 5.4% vs. 3.5% expected and 2.7% previous while Industrial Production YoY came in at 4.2% and 3.8% estimated and 3.8% prior.
Meanwhile, the Fixed Asset Investment YoY rises to 5.8% in August vs 5.5% expected and 5.7% last.
Earlier on, the House Price Index dropped 1.3% YoY in August when compared to a 0.9% decline seen in July. The monthly slump in prices was recorded at 0.29%.
Additional details
China Aug nationwide survey-based jobless rate at 5.3%.
China Aug survey-based jobless rate in 31 major cities at 5.4%.
China's economy created 8.98 million new urban jobs in Jan-Aug.
China Aug survey-based jobless rate for 16-24 years old at 18.7%.
Market reaction
The Australian dollar remains unfazed by the release of the unexpectedly strong Chinese data. The AUD/USD pair is holding steady on the day at 0.6700, as of writing.
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