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China's Industrial Production rose by 6.3%

Tuesday, Sep 13 2016

Broad measures of Chinese economic activity improved in August, but the underlying trend continued to signal volatility in an economy struggling to keep its foot on the pedal. Industrial production, a broad gauge of factory activity, rose 6.3% in August from a year earlier, the National Bureau of Statistics reported Tuesday in Beijing. Industrial production slowed to 6% annually the month before.

Retail sales, a measure of private and government spending, climbed 10.6% year-on-year, following a 10.2% increase the previous month. A separate gauge of annual fixed-asset investment held steady at a 16-year low of 8.1% in the January-August period,official data showed. Economists forecast industrial production to rise, retail sales to remain steady and fixed-asset investment to fall to a new low.

 

Aussie is currently being traded around 0.7540 level. Pair is likely to find support around 0.75 handle and resistance above 0.7570 area.

More in this category: « NAB Business Confidence improved in August UK CPI increased less than expected »

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