(11/08/2013)China data show improvement in July By Michael Kitchen, MarketWatch--(Aug. 9, 2013, 2:20 a.m. EDT ) [請分享這視頻Post 給朋友/給LIKE。更多人到我的Facebook Page，我會提供更好的內容.謝謝.您的支持和鼓勵是重要的!] — A flood of Chinese data for July painted a mostly upbeat picture, with industrial production especially strong, though some doubts about the strength of the economy remained. China’s industrial production grew at the fastest pace since February, rising 9.7% from a year earlier, though retail-sales growth slowed slightly, the National Bureau of Statistics said Friday. The strong gain for July compared to a 8.9% rise in June, and exceeded forecasts for a 9% gain in separate Reuters and Dow Jones Newswires surveys of economists. Other numbers also showed growth, though more in line with what analysts had expected. Urban fixed-asset investment — watched as an indicator of construction spending — grew an average 20.1% in the January-July period, the same as for January-June and ahead of a 20% projection from the two newswires’ surveys. Fixed-asset investment is reported on a year-to-date basis. Retail sales, meanwhile, eased to a 13.2% growth rate from June’s 13.3%, though it still ranked as the second-best month this year. The growth lagged expectations of a 13.5% increase in the Reuters poll. Benign inflation The data followed inflation data released by the statistics bureau earlier in the day. Inflation was relatively benign in July, with consumer prices rising 2.7% from a year earlier, unchanged from the rate in June. The result came in below forecasts for a 2.8% increase, according to a Dow Jones Newswires survey of economists. Prices were restrained despite a 5% annual gain for food prices in July. Bank of America Merrill Lynch economists saw the price gains as small enough to offer room for pro-growth policy from Beijing. “Since CPI inflation is still not close to the 3.5% cap set by Premier Li [Keqiang], today’s inflation data should be positive to markets, as the muted inflation reading will provide necessary room for implementing a mini fiscal stimulus and avoiding monetary tightening,” they wrote. Wholesale prices, meanwhile, deflated further, with the producer price index falling 2.3% from July 2012, compared with a 2.7% drop the previous month. The Dow Jones survey had tipped a decrease of 2.2%. On a monthly basis, the CPI rose 0.1%, and the PPI fell 0.3%. Much of the reaction to the data was mildly positive. AMP Capital chief economist Shane Oliver, writing on Twitter, described the results as “still consistent with growth around 7.5% this year. No boom, but no bust either!” But some economists remain skeptical of most official Chinese data. In remarks before Friday’s data release, Charles Schwab director of international research Michelle Gibley said that while recent economic numbers may be trending higher, China’s economy still faces very serious challenges. “China’s slowdown may be moderating but we believe there is too much excess capacity in China. China’s economic model of the past, of debt-fueled investment-led, isn’t working and needs to change. Until the excesses are reduced, economic growth won’t be healthy,” she said. “We believe China-related investments will underperform until there is more certainty about how and where China’s economy stabilizes,” Gibley said. Market reaction to the industrial production and retail sales readings, released late in the trading day, was also positive, but only modestly so. Chinese stocks gained some ground following the latter data, with Hong Kong’s Hang Seng Index HK:HSI +0.70% trading 0.7% higher, compared with a gain of 0.4% just ahead of the release. The Shanghai Composite CN:SHCOMP +0.36% , meanwhile, pared its 0.5% loss to trade down 0.2%. The Australian dollar AUDUSD +1.1522% — often sensitive to Chinese data, given the country is Australia’s top trading partner — also rose, buying 91.24 U.S. cents from 91.11 cents prior to the release. 免責聲明：股票價格可以上升或下跌。股票市場的波動可以很大。購買股票或衍生工具是有風險.本人不承擔使用此內容做成的所有/任何形式損失(完整的免責聲明是在我Facebook Page 的About,你應該看它)
Posted on: Sat, 10 Aug 2013 16:34:55 +0000
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