China’s November Retail Sales YoY, slumped 5.9% vs. 3.6% expected and -0.5% previous while the country’s Industrial Production came in at 2.2% YoY vs. 3.6% estimated and 5.0% prior.
Meanwhile, the Fixed Asset Investment dropped to 5.3% YoY in November vs 5.6% expected and 5.8% last.
Key takeaways (via NBS)
China’s economy maintained recovery trend in nov despite multiple pressures.
Foundation of economic recovery still not solid.
Market reaction
The Australian dollar remains unfazed by the downbeat Chinese data release. The AUD/USD pair is licking its wounds near 0.6850, down 0.25% on the day, as of writing.