Positive macroeconomic statistics from China | 17 Noviembre 2020

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China continued its path towards economic recovery in October, with a faster-than-expected rise. Meanwhiles retail sales grew 4.3% year-on-year in October, down from the forecast 4.9% but up from September’s growth of 3.3%. The unemployment rate fell to 5.3% from September’s 5.4%.China’s fourth-quarter economic growth will continue to accelerate from the third quarter, Fu Linghui, spokesman of the National Statistics Bureau, predicted at a briefing after the data was released. Stimulus policies from the government, including the People’s Bank of China injecting more liquidity into the financial system it has a positive impact on the economy.

Trading recommendation: Buy 104.35 and take profit 104.75