Despite numerous headwinds including accelerated capital outflows and ongoing downward pressure on the Yuan, the Chinese economy experienced positive momentum during the month of November. Besides industrial production growing at the fastest pace since August, climbing to 6.20% in November versus 6.10% in October, fixed asset investment remained in growth territory at 8.30%. Better industrial figures were primarily driven by rising manufacturing output alongside electric, gas, and water production which rose by 9.90% on an annualized basis. Contributing to the more optimistic viewpoint were retail sales figures which outperformed forecasts by a wide margin, increasing 10.80% year over year. Nevertheless, concerns remain about the integrity of Chinese economic data.
China’s Economy Gains Momentum
Daily Analysis - 13/12/2016