Chinaaaaaa!!!
Chinese real GDP rose at a slightly faster pace in Q4 than economists were expecting, according to the Asian nation’s National Bureau of Statistics on Thursday (Wednesday evening EST). It rose 10.7% compared to the consensus call for a 10.5% rise to bolster the prior quarter’s revised 9.1% gain. Meanwhile, industrial production rose at an annualized 18.5% rate in December, below expectations for a 19.6% increase and the 19.2% rate in November. Retail sales, on the other hand, exceeded the consensus by rising 17.5% year-over-year in December compared to expectations for a 16.3% gain to bolster the previous month’s 15.8% rise. Chinese CPI rose an annualized 1.9% in December, a faster pace than the expected 1.4% rate and the previous 0.6% increase. Producer prices, on the other hand, increased 1.7% year-over-year in December, above calls for a 0.8% rise and following the 2.1% drop previously. Following the data, the AUD/USD instantly dropped 23 pips to $0.9101USD, before it rapidly returned to pre-release levels.
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