China's data is here from earlier, not too shabby:
- China Q4 GDP 6.0% (vs. 6.0% expected). Full year GDP 6.1% (expected 6.2%)
- China December Industrial Production 6.9% y/y (expected 5.9%) & Retail sales 8.0% (expected 7.9%)
A summary of comments on the releases from ING here in APAC:
- GDP for 4Q19 ... same as in 3Q19 and as expected ..the recent trend has been steadily down
- We are hopeful that some of the recent infrastructure spending will provide more of a tangible lift in early 2020, as the net export sector is unlikely to do much following only very modest changes in effective tariff rates after the phase-one trade deal.
- It is possible that a period of trade calm will provide some support for business sentiment and investment.
- Industrial production was the star of the show
- Infrastructure spending buoyed by stimulus measures seems to be providing the industrial sector with the demand it needs in the absence of a notable pick up in manufacturing production or residential construction.
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ps FX response has been subdued. AUD, for example, is little changed now:
