China Q3 GDP +2.7% q/q (expected +3.3%)

A miss for the data from China, a rare occurrence.

China Q3 GDP

+2.7% q/q 
+4.9% y/y
Also out at the same time, ‘activity data for September, which is much better. 

Industrial Production 6.9% y/y, helped along by improving exports. 

Industrial Production YTD 1.2% y/y

Fixed Assets (excluding rural) YTD +0.8% y/y

Retail Sales +3.3% y/y, indicative of a continued rebound for domestic consumption

  • expected 1.6%, prior was 0.5%

Retail Sales YTD -7.2% y/y

Market impact so far is a small sell off for risk currencies such as AUD and NZD …. but its small. Stocks in China also off. 

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