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China's Industrial Production up by 6.1%

Thursday, Jun 11 2015
China's industrial output rose 6.1% last month from a year earlier, the statistics bureau said Thursday, accelerating from 5.9% in April and beating the median estimate of 6.0%. Retail sales added 10.1% in May, while fixed-asset investment excluding rural households climbed 11.4% in the first five months. 
 
“A stabilization in production, or a modest acceleration, shows that the Chinese economic performance won’t be bad in the coming months,” said Li Wei, China economist for Commonwealth Bank of Australia in Sydney. “Both industrial production and consumer spending are likely to turn better in the second half of this year.”
 
After the data Aussie remained unchanged and is currently being traded few points above 0.7760 level. Pair is likely to find support around 0.77 handle and resistance near 0.78 area. Later today, in the US session, Retail Sales and Unemployment Claims figures are scheduled for a release.
More in this category: « Australian Unemployment Rate fell to a one-year high Euro lower in a steadier European part of the session »

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