Financial News: China Data On Tap For Tuesday

China Data On Tap For Tuesday

05/15/2023 - 18:00:00 (RTTNews)

(RTTNews) - China is scheduled to release a raft of data on Tuesday, highlighting an otherwise light day for Asia-Pacific economic activity.

On tap are April figures for industrial production, retail sales, fixed asset investment and unemployment.

Industrial production is expected to climb 10.1 percent on year, up from 3.9 percent in March. Retail sales are tipped to surge an annual 20.1 percent, accelerating from 10.6 percent in the previous month. FAI is seen higher by 5.2 percent on year, up from 5.1 percent a month earlier. The jobless rate is called steady at 5.3 percent.

The Reserve Bank of Australia will release the minutes from its May 2 monetary policy meeting. At the meeting, the RBA unexpectedly raised its benchmark interest rate by a quarter-point to 3.85 percent and signaled more hikes to bring inflation back to the target in a reasonable timeframe.

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