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11 Mar 2013
Chinese data disappoints; inflation above expectations
Chinese data over the weekend was poorer-than-expected overall. Inflation in China for February increased to 1.1% vs 0.8% expected (MoM) , while the yearly rise in prices stood at 3.2% in February vs 3.0% expected.
The annual producer price index in February saw a 1.6% decline vs -1.5% expected, with the industrial production up 9.9% in February from a year earlier vs +10.5% expected. Retail sales (YoY) in February also disappointed at +12.3% vs +15.0% expected, while urban investment (YTD) (YoY) in February saw a reading of +21.2% vs +20.8% expected.
According to Eamonn Sheridan, editor at Forexlive: "The higher inflation figures out of China over the weekend have started chatter about tightening there (the chatter is a little premature IMO, its only one month’s data), but the weaker than expected industrial production and spending data argue for continued looseness. Therein lies the dilemma."
The annual producer price index in February saw a 1.6% decline vs -1.5% expected, with the industrial production up 9.9% in February from a year earlier vs +10.5% expected. Retail sales (YoY) in February also disappointed at +12.3% vs +15.0% expected, while urban investment (YTD) (YoY) in February saw a reading of +21.2% vs +20.8% expected.
According to Eamonn Sheridan, editor at Forexlive: "The higher inflation figures out of China over the weekend have started chatter about tightening there (the chatter is a little premature IMO, its only one month’s data), but the weaker than expected industrial production and spending data argue for continued looseness. Therein lies the dilemma."