August 15, 2024 at 03:37AM
Hopes are up, again, for stimulus from China after the most recent data, which continues the theme of e=unevenn recovery:
China July data: Retail sales +2.7% y/y (expected +2.6). Industrial production +5.1% y/y
National Bureau of Statistics (NBS) with remarks:
Economic recovery trend needs to be consolidated
Expects recovery in consumption to consolidate as policies gain traction
Falls in Producer Prices Index are likely to narrow in coming months
Consumer prices are expected to remain relatively stable
domestic demand is likely to improve due to policy support
Economic development in China faces more favourable conditions despite challenges and risks
China’s foreign trade remains resilient despite rising protectionism
This article was written by Eamonn Sheridan at www.forexlive.com.