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China Industrial Production grew at a slower pace than expected

Friday, Dec 12 2014

Industrial Production in China grew by 7.2%, missing market expectations on 7.6% growth, indicating a further slowdown in Chinese economy.  Fixed Asset Investment data showed 15.8% increase in line with market forecasts while Retail Sales were up by 11.7%, beating predictions on 11.5% incline. 

 

Smaller growth in Industrial Production than expected was mostly factory shutdowns which caused a manufacturing slowdown. The government ordered some factories to close in Beijing and surrounding provinces during the Asia-Pacific Economic Cooperation forum in early November to downsize pollution.

 

Data was of no major impact on the markets with Aussie remaining on the downside around 0.8270 level. Later today, in the US session Retail Sales and Consumer Sentiment figures are scheduled for a release. 

More in this category: « US Retail Sales increased by 0.7% Eurozone Industrial Production up by 0.1% »

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