![]() Monday’s numbers didn’t do a lot to change current, rather cautious thinking on China, and the Australian Dollar action reflected this. ![]() Some economic data already released have shown consistent falls in the pace of expansion, notably the private Purchasing Managers Index series from local media group Caixin. Investors can hardly be opposed to this but all the same there are worries about what the deleveraging process will mean for Chinese demand and production. However, Chinese policy makers have shifted their emphasis to controlling financial risks and cooling the property market’s speculative fire. While the retail-sales number chimed with surveys showing buoyant consumer confidence, the industrial figures only served to heighted suspicions that China’s overall growth may be start to fade as the year goes on.Ĭurrent overall growth levels were comfortably above the official target of 6.5% for this year according to first-quarter data. It rose by 6.5% on the year in April, well below both the 7% gain expected and the previous month’s 7.6% gain. The real miss was in industrial production though.
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