China data April Retail sales & Industrial production both plunge

Data from China April 2022

Retail sales -11.1% y/y

• expected -6.1%, prior -3.5%

Industrial production -2.9% y/y

• expected +0.4%, prior +5.0%

Investment, fixed asset excluding rural +6.8% y/y

• expected 7.0%, prior 9.3%

Urban jobless rate 6.1%

• expected 5.8%, prior 6.0%

As you can see, retail sales and industrial output have both collapsed for March and are lower than even the lackluster expectations for April. Terrible numbers (they could be even worse given the doubts that tend to accompany official data from China).

Some analyst responses coming in:

• these economic numbers are some of the worst ever reported

The China data is a negative for AUD and other 'risk' assets.

eur EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term