Coming up from China today, due at 0200 GMT:
November Industrial Production y/y
- expected is 6.1%, 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%
'What to expects' are a bit thin on the ground, but here are two quickies:
HSBC:
- China IP growth likely slowed to 6.1% y-o-y from 6.2% y-o-y in October.
- Growth momentum likely softened amidst winter season production caps.
- Despite tougher environmental regulations, we expect industrial production to hold up well through 2018 amidst industrial upgrading.
TD Securities:
- The manufacturing PMI average was neutral for Nov at 51.3 (official higher but Caixin lower) hence we leave IP at 6.2%/yr.
- In contrast, the non-manufacturing PMI average picked up from 52.8 to 53.4, and so we pencil in a stronger improvement in retail sales.