China Oct. Industrial Production +4.6% y/y (exp 4.4%) & Retail sales +7.6% y/y (exp 7.0%)

<p>The activity data is centred on 3 indicators: industrial production, retail sales and fixed asset investment.</p><p>A beat for retail sales (a consumption indicator rising is good news for China)</p><ul><li>service consumption grew at a faster pace than goods consumption</li></ul><p>A beat also for IP. </p><p>The official data is point to more signs of a sustained recovery in China's economy.</p><p>National Bureau of Statistics (NBS) comments:</p><ul><li>foundation of economic recovery is yet to be consolidated</li><li>expects China's price situation to improve, no deflation</li><li>will be twists and turns in the economic recovery</li><li>employment situation is generally stable</li><li>property market is still in adjustment, transformation</li></ul><p>More:</p><ul><li>Urban Unemployment (in 31 major cities) 5.0% vs prior 5.0%</li><li>Apparent oil demand +10.9% y/y</li></ul><p>—</p><p>The first week of October marked the big public holiday for China, known as Golden Week.</p>

This article was written by Eamonn Sheridan at www.forexlive.com.