China National Bureau of Statistics (NBS) official says economic indicators positve change

China’s National Bureau of Statistics (NBS) deputy chief comments:

• September
  economic indicators showed positive changes
• China’s foreign trade situation this year better than expected
• Foundation for economic recovery not solid yet
• Will speed up implementation of a basket of policy measures

The data from China today began with that showing

new
home prices fell at the fastest rate since 2015:

• China September new house prices -5.7% y/y (prior -5.3%)

China’s 3Q GDP:

• China Q3 GDP 4.6% y/y (expected 4.5%) 0.9% q/q (expected 1.0%)
• slightly better than expected y/y

Retail sales much better than expected, and industrial output also:

• China Sept: Retail sales +3.2% y/y (expected +2.5) Industrial production +5.4% y/y (4.6)

The improvements in this last lot of data came for the period pretty much preceding the first ‘stimulus’ announcement (September 24). That’s encouraging. I guess China will argue the stimulus, which so many were disappointed in, is sufficient.

This article was written by Eamonn Sheridan at www.forexlive.com.