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China's Industrial Production increased by 6.2%

Tuesday, Dec 13 2016
China's Industrial Production increased by 6.2%

Key measures of Chinese economic activity grew at a faster pace in the third quarter, adding to growing evidence the world’s second-largest economy was easing into a slower but steady expansion after a volatile two years. Industrial production, a broad measure of factory output, rose at an annualized 6.2%  in November from a year earlier, the National Bureau of Statistics reported Monday in Beijing. Industrial production rose 6.1% year-over-year in October.

Retail sales, a gauge of private and government spending, rose 10.8% year-on-year, up from October’s 10% pace. That was the fastest expansion this year. A separate measure of annual fixed-asset investment, a proxy for long-term spending, gained rose 8.3% in the January-November period. Urban investment advanced at a similar pace in the year to October. Growth in this category has slowed sharply over the past three years.

 

Aussie is currently being traded around 0.75 handle. Pair is likely to find support around 0.7450 area and resistance above 0.7550 level.

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