China growth stabilising as retail sales surprise

~~HONG KONG - China’s November economic activity data is generally in line with market expectations, indicating that China’s growth momentum is stabilising. Industrial production slowed to 10% y/y, down from November’s 10.3%, in line with the weak raw material prices, while  fixed asset investment moderated to 19.9% y/y in January-November, which ANZ Bank says could be due to rising funding costs since October.

“Interestingly, retail sales surprised the market on the upside, gaining 13.7% y/y, up from October’s 13.3%, led by household appliances,” ANZ says. www.live.anz.com (ATI).