China’s economy expanded at an annual rate of 4.6% in the third quarter of 2024 after growing 4.7% in the second quarter, the official data published by the National Bureau of Statistics (NBS) showed on Friday. The market forecast was 4.5% in the reported period.
On a quarterly basis, the Chinese Gross Domestic Product (GDP) rate rose 0.9% in Q3 2024, compared to 0.7% booked in the previous quarter, missing the expectations for a 1.0% reading.
China’s September Retail Sales YoY, increased by 3.2% vs. 2.5% expected and 2.1% prior while the nation’s Industrial Production arrived at 5.4% YoY vs. 4.6% anticipated and August’s 4.5%.
Meanwhile, the Fixed Asset Investment edged higher by 3.4% year-to-date (YTD) YoY in September vs 3.3% expected and 3.9% prior.
AUD/USD reaction to China’s data dump
Mixed China’s GDP and activity data failed to impress the Australian Dollar, as the AUD/USD pair keeps its range just above 0.6700. At the time of writing, AUD/USD is up 0.20% on the day to trade at 0.6708.
Australian Dollar PRICE Today
The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.04% | -0.08% | -0.14% | -0.03% | -0.17% | -0.10% | 0.02% | |
| EUR | 0.04% | -0.02% | -0.07% | 0.00% | -0.15% | -0.04% | 0.06% | |
| GBP | 0.08% | 0.02% | -0.04% | 0.03% | -0.11% | -0.01% | 0.05% | |
| JPY | 0.14% | 0.07% | 0.04% | 0.10% | -0.05% | 0.01% | 0.11% | |
| CAD | 0.03% | -0.01% | -0.03% | -0.10% | -0.15% | -0.05% | 0.01% | |
| AUD | 0.17% | 0.15% | 0.11% | 0.05% | 0.15% | 0.08% | 0.17% | |
| NZD | 0.10% | 0.04% | 0.00% | -0.01% | 0.05% | -0.08% | 0.08% | |
| CHF | -0.02% | -0.06% | -0.05% | -0.11% | -0.01% | -0.17% | -0.08% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).
Source: https://www.fxstreet.com/news/chinas-economy-expands-46-yoy-in-q3-2024-vs-45-expected-202410180201