The National Bureau of Statistics released key economic data for the third quarter today. China’s GDP grew 4.5% year over year in the third quarter, above the market expectation of 4.4% and the previous reading of 4.3%. Meanwhile, total retail sales of consumer goods rose 1.1% year over year in September, significantly exceeding expectations of 0.6%. Industrial value added by enterprises above designated size grew 5.5% year over year, in line with expectations and above the previous reading of 5.2%.
From the perspective of technical indicators aligning with macroeconomic data, third-quarter GDP growth accelerated to 1.2% quarter over quarter, while the surveyed urban unemployment rate fell to 5.2%. Together, these figures suggest that fundamentals are forming a solid base. Retail sales and industrial output both rebounded, confirming that the economic recovery is gaining momentum and moving out of the previously volatile, weakening trend.
Stabilizing macroeconomic fundamentals are providing effective support for risk assets. As output across key Asia-Pacific supply chains stabilizes and expectations for global liquidity gradually improve, buying support at key levels has strengthened considerably. Defensive sentiment in traditional capital markets is shifting toward a more risk-on stance.
For crypto markets, a stable global macroeconomic environment provides fertile ground for risk appetite. If market structure continues to break upward, key assets such as $BTC could attract more incremental capital, extending the bullish trend of choppy gains. #ChinaGDP #MacroEconomics #CryptoTrading
From the perspective of technical indicators aligning with macroeconomic data, third-quarter GDP growth accelerated to 1.2% quarter over quarter, while the surveyed urban unemployment rate fell to 5.2%. Together, these figures suggest that fundamentals are forming a solid base. Retail sales and industrial output both rebounded, confirming that the economic recovery is gaining momentum and moving out of the previously volatile, weakening trend.
Stabilizing macroeconomic fundamentals are providing effective support for risk assets. As output across key Asia-Pacific supply chains stabilizes and expectations for global liquidity gradually improve, buying support at key levels has strengthened considerably. Defensive sentiment in traditional capital markets is shifting toward a more risk-on stance.
For crypto markets, a stable global macroeconomic environment provides fertile ground for risk appetite. If market structure continues to break upward, key assets such as $BTC could attract more incremental capital, extending the bullish trend of choppy gains. #ChinaGDP #MacroEconomics #CryptoTrading