China data - miss for industrial production and retail sales in October - more

The Chinese activity data is here:

• China October: Industrial Production 4.7% y/y (vs. expected 5.4%) & Retail sales 7.2% y/y (vs. 7.8% expected)

AUD losing a little more:

• AUD drops after China activity data misses for the month

IP miss, retail miss …. and also investment missed (check out that first link for the numbers). In the details, private investment growth slows also.

Bad news not only for China and AUD but also for the region generally, less demand from China.

The stats bureau says:

• need efforts to achieve full-year employment target
• will resist downward economic pressure

Yep, the flip side of bad data out of China is the promise of more stimulus.