Following the releases of downbeat Chinese activity data, the spokesman for the country’s stats bureau, National Bureau of Statistics (NBS) highlighted the following key points.
China’s July industrial output growth slowest since Feb 2002.
China’s economic growth generally stable.
China’s job market remained generally stable in July, with the surveyed urban unemployment rate slightly up from 5.1% in June to 5.3%.
China’s economic growth still in proper range.
Higher jobless rate in July due to graduate season.
Auto sales main drag on China’s July retail sales.
A big miss on the Chinese macro data continues to keep the downside pressure intact on the AUD/USD pair, with the bears still guarding the 0.6800 barrier.
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