China Retail Sales misses the mark by a mile, 2.5% vs 7% expected
A string of data has been released from China, with Retail Sales arguably the most impactful on markets.
Retail Sales came in at +2.5 PCT YoY vs 7% expected.
Industrial Output was up 5.3% YoY vs the Reuters poll of +5.8 %.
AUD/USD slightly offered following the news, down 0.18% on the session so far.
About Retail sales
The Retail Sales report released by the National Bureau of Statistics of China measures the total receipts of the retailed consumer goods. It reflects the total consumer goods that the various industries supply to the households and social groups through various channels. It is an important indicator to study the changes in the Chinese retail market and reflecting the degree of economic prosperity. In general, A high reading is seen as positive (or bullish) CNY, while a low reading is seen as negative (or bearish) for the CNY.
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September 14, 2021 at 07:10PM