The post China’s economy grows 5.4% YoY in Q4 2024 vs. 5% expected appeared on BitcoinEthereumNews.com.

China’s economy grew 5.4% over the year in the fourth quarter of 2024 after reporting a 4.6% expansion in the third quarter, the official data published by the National Bureau of Statistics (NBS) showed on Friday. Data beat the market consensus of 5% in the reported period, by a wide margin. On a quarterly basis, the Chinese Gross Domestic Product (GDP) rate rose 1.6% in Q4 2024, having increased 0.9% in the previous quarter. This figure matched the expectations of 1.6%. China’s annual December Retail Sales increased by 3.7% vs. 3.5% expected and 3% prior, while Industrial Production arrived at 6.2% vs. 5.4% forecast and November’s 5.4%. Meanwhile, the Fixed Asset Investment advanced 3.2% year-to-date (YTD) YoY in December vs 3.3% expected and 3.3% previous. AUD/USD reaction to China’s data dump China’s GDP and activity data failed to inspire the Australian Dollar, as the AUD/USD pair keeps its range around 0.6210. At the time of writing, AUD/USD is trades modestly flat on the day. Australian Dollar FAQs One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD. The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is…

---

Filed under: News - @ January 17, 2025 2:23 am