China November Industrial Production 7.0% y/y (vs. expected 7.0%)

Chinese 'activity' data for November 2020.

Industrial Production 7.0% y/y

• expected 7.0%, prior was 6.9%

Industrial Production YTD 2.3% y/y

• expected 2.3%, prior was 1.8%

Fixed Assets (excluding rural) YTD 2.6% y/y

• expected 2.6%, prior was 1.8%

Retail Sales 5.0% y/y

• expected 5.0%, prior was 4.3%

Retail Sales YTD -4.8% y/y .... the only 'beat', not as negative as expected

• expected -4.9%, prior was -5.9%

Huh. All central expectations are bang on the money except for that one tiny beat noted above.

The break-up of the investment data shows private investment swing into positive, +0.2% for the January - November period, a positive for the first time in 2020. Public-sector (ie/ state-owned) investment continues to lead though, up 5.6% for the same 11 month period.