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China's Industrial Production rose less than expected

Monday, Nov 14 2016
China's Industrial Production rose less than expected

Broad measures of Chinese economic activity expanded less than forecast in October, raised red flags about the sustainability of the recovery. Industrial production, a broad indicator of factory output, rose at an annualized 6.1% in October from a year earlier, the National Bureau of Statistics reported Monday in Beijing. Industrial production rose by a similar amount the previous month.

Retail sales, which track private and government spending, rose just 10% year-on-year, down sharply from September’s 10.7% gain. A separate gauge of annual fixed-asset investment, a proxy for long-term spending, increased 8.3% in the January-October period. Urban investment rose 8.2% in the year to September.Economists forecast retail sales to improve in October. Industrial production and fixed-asset investment were forecast to hold steady.

 

Aussie is currently being traded around 0.7540 level. Pair is likely to find support around 0.75 handle and resistance above 0.7580 area.

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