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All Eyes on US Retail Sales - Action Forex

In the US, January retail sales and industrial production data is due for release. Consensus expects some moderation in retail sales growth, even though early credit card data suggests that consumption has remained brisk at the start of the year as well. The NAHB housing market index and initial claims data will also be released today.
United Kingdom Anna Breman Norges Bank European Commission Swedish Macro Erik Thed

China Beats its 2023 Growth Target - Action Forex

Chinese data out this morning disappointed badly. The GDP data looked okay with a 1.0% q/q increase (consensus of 1.1%). This compares with a growth rate of 1.5% q/q for Q3 (revised up from 1.3% q/q). With the Q4 release, Chinese GDP growth for the year 2023 stood at 5.2%, thus beating the government's 5% growth target and in line with consensus. However, data for consumption and housing was weak. Chinese retail sales for December stood at 7.4% y/y missing expectations of 8% y/y, and down f...
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