IP, retail sales and investment data
Industrial Production 5.8% y/y big beat
- expected 4.9%, prior was 4.4%
industrial production YTD 5.6% y/y
- expected 5.5%, prior was 5.6%
Fixed Assets (excluding rural) YTD 5.4% y/y small miss
- expected 5.5%, prior was 5.5%
Retail Sales 7.8% y/y inline
- expected 7.8%, prior was 7.5%
Retail Sales YTD 8.2% y/y
- expected 8.1%, prior was 8.2%
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That solid beat for IP … very solid indeed. yes the PMIs had improved but still, 5.8% vs. 4.9% expected is outstanding. Whatever … what you can say is the IP result so strong has cushioned some of the disappointment of GDP growth falling to its slowest pace in 30 years.
