20 Jan 2015
Chinese data came in on the positive side – Danske Bank
FXStreet (Edinburgh) - Senior Analyst Christin Tuxen at Danske Bank assesses the better-than-expected Chinese data out early today.
Key Quotes
“The batch of Chinese data out overnight came out better than feared with industrial production up 7.9% y/y (vs 7.4% expected)”.
“Annual retail-sales growth also surprised positively and fixed-asset investment held up well”.
“Albeit Chinese GDP growth slowed to a mere 7.3% y/y, the figures helped to lift sentiment in an Asian session that was otherwise challenged by the IMF revising lower its global growth forecast to 3.5% (from 3.8%) in 2015 and 3.7% (4%) in 2016”.
Key Quotes
“The batch of Chinese data out overnight came out better than feared with industrial production up 7.9% y/y (vs 7.4% expected)”.
“Annual retail-sales growth also surprised positively and fixed-asset investment held up well”.
“Albeit Chinese GDP growth slowed to a mere 7.3% y/y, the figures helped to lift sentiment in an Asian session that was otherwise challenged by the IMF revising lower its global growth forecast to 3.5% (from 3.8%) in 2015 and 3.7% (4%) in 2016”.