Chinese data

The Chinese data came in around par yesterday with economic activity remaining firm. GDP for Q3 rose by 9.6% yoy (9.5% yoy expected), however is still down from Q2’s 10.3%. Partial CPI came in slightly higher than expected to 3.6% and Industrial Production was a little lower at 13.3%, down from the consensus of 14%. Urban Fixed Income was also close to expectations, rising to 24.5% from last months 24.8%. China is slowing as anticipated in the wake of stimulus withdrawal, however the pace of the slowdown is not accelerating. For Australia, the good news appears to be that China’s economy is moving at a sustainable pace.

Import and Export data is out in Australia today, however it shouldn’t cause too many fireworks in the markets. The markets will also keep a close eye on the G-20 meeting in South Korea this weekend.