20 Jan 2014
Flash: Chinese economic momentum slowed into year end - BTMU
FXstreet.com (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ notes that Chinese economic momentum slowed into year end.
Key Quotes
"A loss economic momentum (in China) heading into year end was most evident in the latest monthly industrial production report which revealed that the annual rate of growth slowed by 0.3 point to 9.7% in December. The annual rate of retail sales growth also slowed by 0.1 point to 13.6% in December.”
“Our analysts in Hong Kong expect real GDP growth in China to remain at around 7.7% in 2014 with support from strengthening global growth likely to reduce the drag from net exports helping offset any further potential weakness in domestic demand."
"Net exports subtracted 4.4 percentage points from real GDP growth in 2013. Overall the economic data releases from China overnight were mixed which has resulted in a limited market reaction with currencies tightly linked to demand from China such as the Australian dollar remaining stable."
Key Quotes
"A loss economic momentum (in China) heading into year end was most evident in the latest monthly industrial production report which revealed that the annual rate of growth slowed by 0.3 point to 9.7% in December. The annual rate of retail sales growth also slowed by 0.1 point to 13.6% in December.”
“Our analysts in Hong Kong expect real GDP growth in China to remain at around 7.7% in 2014 with support from strengthening global growth likely to reduce the drag from net exports helping offset any further potential weakness in domestic demand."
"Net exports subtracted 4.4 percentage points from real GDP growth in 2013. Overall the economic data releases from China overnight were mixed which has resulted in a limited market reaction with currencies tightly linked to demand from China such as the Australian dollar remaining stable."