There were no data releases from Australia yesterday, however, over the weekend, China's Industrial Production figures were released. Value-added industrial output in China rose 5.4% in the January-February period from a year earlier, slowing from 5.9% growth in December, data from the National Bureau of Statistics showed on Saturday. Industrial production, a rough proxy for economic growth, undershot a median 5.6% growth forecast by 17 economists polled by The Wall Street Journal.
The rise in the closely watched indicator of construction activity exceeded economists' median forecast for a 9.5% gain.
Retail sales, one of the few bright spots for China's economy in recent months, grew only 10.2% in January-February period from the same time last year, slowing from an 11.1% increase in December and missing economists' median forecast of an 11.0% rise.
Focus of the morning part of tomorrow's session will be on RBA Meeting Minutes, though we cannot expect much new compared to the statement following rate decision. In the US session Retail Sales, PPI and Empire State Manufacturing Index figures are scheduled for a release. Analysts predict 0.2% decrease in PPI and 0.1% fall in Retail Sales, while Empire State Manufacturing Index should increase to -10.3.
Figures to watch:
Monetary Policy Meeting Minutes (Tuesday 1:30)
Retail Sales (Tuesday 13:30)
PPI (Tuesday 13:30)
Empire State Manufacturing Index (Tuesday 13:30)
