China’s National Bureau of Statistics (NBS) deputy chief comments:
September
economic indicators showed positive changesChina’s foreign trade situation this year better than expectedFoundation for economic recovery not solid yetWill speed up implementation of a basket of policy measures
The data from China today began with that showing
new
home prices fell at the fastest rate since 2015:
China September new house prices -5.7% y/y (prior -5.3%)
China’s 3Q GDP:
China Q3 GDP 4.6% y/y (expected 4.5%) 0.9% q/q (expected 1.0%) slightly better than expected y/y
Retail sales much better than expected, and industrial output also:
China Sept: Retail sales +3.2% y/y (expected +2.5) Industrial production +5.4% y/y (4.6)
The improvements in this last lot of data came for the period pretty much preceding the first ‘stimulus’ announcement (September 24). That’s encouraging. I guess China will argue the stimulus, which so many were disappointed in, is sufficient.
This article was written by Eamonn Sheridan at www.forexlive.com.
