The data points are here from a few minutes ago:

NAB:

  • headline not much of a surprise for markets
  • some of the positive spin for this data - the December IP and retail sales - came in better than expected
  • may help remove or reduce some of the concerns of a growth slowdown becoming more entrenched this year
  • unemployment number in the data has edged up … is not good
  • There will be more stimulus... not time to relax on that front and we will see more effort on stimulus this year

FT:

  • China GDP growth 6.4% in Q4 is lowest since the global financial crisis
  • full year growth of 6.6% exceeds target
  • Economists expect Beijing to ramp up stimulus measures in the coming months, including additional cuts to banks' required reserve ratio. But experts also warn previous rounds of heavy stimulus have left policymakers with less flexibility to loosen credit, which would further swell the economy's debt burden.