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Renminbi Series: China’s economic recovery gathers pace

China’s economy is humming strongly and the signs of a recovery are becoming more broad-based. According to latest data from the National Bureau of Statistics (NBS), China’s GDP grew by 6.9 percent in the second quarter, same as the first three months of the year. It is important to notice that China’s growth rate was above the 6.5 percent target of the communist government. Strong humming in the real estate sector helped China to achieve this above-targeted growth. Recovery was visible from data across the board.

  • Industrial production grew by 7.6 percent from a year ago, which is the highest pace since December 2014.
  • Retail sales grew by 11 percent in June from a year ago, which is the highest pace of growth since December 2015.
  • Urban investments were strong at a growth rate of 8.6 percent y/y.

Chinese yuan has reversed its declining course in recent months and has strengthened from 6.97 per dollar in December last year to 6.76 per dollar as of today. We at FxWirePro expect the yuan to strengthen to as 6.69 per dollar over the year and it might strengthen to as high as 6.5 per dollar.

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November 24 15:30 UTC Released

USECRI Weekly Index*

Actual

145.6 %

Forecast

Previous

145.6 %

November 24 14:45 UTC Released

US1st Half-Mth Infl YY*

Actual

54.6 %

Forecast

Previous

54.6 %

November 27 09:00 UTC 29562956m

ITExport Prices*

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Forecast

Previous

111 %

November 27 09:00 UTC 29562956m

ITImport Prices*

Actual

Forecast

Previous

116.1 %

November 27 14:00 UTC 32563256m

MXTrade Balance, $*

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Forecast

Previous

-1.886 Bln USD

November 27 14:00 UTC 32563256m

MXTrade Balance SA*

Actual

Forecast

Previous

-1.559 Bln USD

November 27 15:30 UTC 33463346m

USDallas Fed mfg bus index

Actual

Forecast

Previous

27.6

November 27 21:00 UTC 36763676m

KRBOK Manufacturing BSI*

Actual

Forecast

Previous

87 Bln BRL

November 28 00:00 UTC 38563856m

BRCentral Govt Balance

Actual

Forecast

Previous

-22.725 Bln BRL

November 28 07:00 UTC 42764276m

DEGDP Growth QQ* Advance

Actual

Forecast

Previous

10.7 %

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