Just a quickie heads up for what coming from China later this week

Thursday (14 December), due at 0200 GMT

Retail sales, industrial production and investment data for November:

  • Industrial Production y/y expected is 6.2%, prior was 6.2%
  • Industrial production YTD y/y expected is 6.6%, prior was 6.7%
  • Fixed Assets (excluding rural) YTD y/y, expected is 7.2%, prior was 7.3%
  • Retail Sales y/y, expected is 10.3%, prior was 10.0%
  • Retail Sales YTD y/y, expected is 10.3%, prior was 10.3%

The November manufacturing PMI is indicating industrial production growth hanging in there, with the Bloomberg consensus (as you can see above) at the same as for October.

On November retail sales - expected to be higher than for October

Also due this week, new loans and broader credit/money supply data, though there is no specific day scheduled.

All for November:

  • New yuan loans, expected is 800bn, prior was 663.2bn
  • Aggregate financing (RMB), expected is 1250bn, prior was 1038.7bn
  • Money supply M0 y/y: expected is 6.5%, prior was 6.3%
  • Money supply M1 y/y: expected is 12.9%, prior was 13.0%
  • Money supply M2 y/y: expected is 8.9%, prior was 8.8%