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Danske Bank analysts point out that Chinese data on industrial production surprised to the upside rising to 6.2% YoY in November from 4.7% YoY in October.

Key Quotes

“It points to GDP growth towards the top of the 6-6 ½% target range and lowers the risk of GDP growth falling below 6%.”

“Chinese retail sales for November were also released this week and they showed an increase to 8.0% y/y from 7.2% y/y in October. The data is volatile, though, and more generally shows a picture of stabilisation in the 7-8% range over the past six months.”