- China’s GDP arrives at +4.9% YoY in Q3, meets expectations.
- China’s September Retail Sales, Industrial Production beat estimates.
- AUD/USD battles 0.71 on the mixed Chinese data dump.
China’s economic recovery from the coronavirus pandemic-induced blow gathered steam in the third quarter of 2020, the official data released at 02:00 GMT showed.
The annualized first-quarter gross domestic product (GDP) came in at +4.9%, missing the forecasted print of +5.2% while up from the previous quarter’s GDP of +3.2%.
Inter-quarter, China’s GDP arrived at +2.7% in Q3 vs. +3.2% expected and +11.5% previous.
China’s September Retail Sales YoY, the number arrived at +3.3% vs. +1.8% expected and +0.5% last, with Industrial Output YoY at +6.9% vs. +5.8% expected and +5.6% last.
Meanwhile, Fixed Asset Investment YoY stood at +0.8% in Sept vs. +0.8% expected and -0.3% last.
AUD/USD reaction
AUD/USD kept its range around 0.71 on downbeat China’s Q3 GDP and upbeat activity numbers for September, underpinned by a better risk tone and the US dollar’s retreat.