Economist at UOB Group Ho Woei Chen, CFA, assessed the latest set of data releases in the Chinese economy and the prospects for the third quarter. Key Quotes “Industrial production growth accelerated to 5.6% y/y in August… , the fifth straight month of gains… With the sustained gains, industrial production has finally turned the corner with +0.4% y/y year-to-date increase compared to -0.4% in the previous month.” “Retail sales also came in above expectation at +0.5% y/y…, its first positive growth since the start of the year… Overall, the rebound in August has narrowed the year-to-date decline in retail sales to -8.6% y/y from -9.9% y/y in the preceding month. In contrast, the e-commerce sales rose 9.5% y/y year-to-date.” “The urban surveyed jobless rate edged lower to 5.6%… The stronger than expected rebound in economic activities is likely to bring the unemployment rate lower to around 5.4% by end-2020, just a touch higher than 5.2% at the end of 2019. Despite this, lower income would still be a significant headwind to further demand recovery.” “The economic data in August, including the stronger-than-expected trade and credit growth, all point towards an acceleration in 3Q GDP growth… We now see some upside risk to our GDP forecast for China which is at 4.9% y/y in 3Q and 5.7% y/y in 4Q (2Q: 3.2% y/y) for full-year 1.8% growth.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Dollar Index Price Analysis: A test of 92.70 (and below) looks likely FX Street 2 years Economist at UOB Group Ho Woei Chen, CFA, assessed the latest set of data releases in the Chinese economy and the prospects for the third quarter. Key Quotes “Industrial production growth accelerated to 5.6% y/y in August… , the fifth straight month of gains… With the sustained gains, industrial production has finally turned the corner with +0.4% y/y year-to-date increase compared to -0.4% in the previous month.” “Retail sales also came in above expectation at +0.5% y/y…, its first positive growth since the start of the year… Overall, the rebound in August has narrowed the year-to-date decline in retail sales… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.