China Economic Pickup Tops Forecasts Before Tariff Pain Deepens.
Consumption and industrial production in China grew faster to start the year, in an upswing that exceeded forecasts as Donald Trump’s tariffs threaten exporters in the world’s largest trading nation.
Retail sales increased 4% in January-February from the same period a year earlier, the National Bureau of Statistics said Monday, exceeding economist forecasts and accelerating from a 3.7% gain in December. Industrial output rose 5.9%, higher than the median estimate in a Bloomberg survey of analysts. Growth in fixed-asset investment picked up to 4.1%.
So far, traders weren’t too impressed with the seemingly upbeat data. Chinese stocks traded in a narrow range, with the benchmark CSI 300 Index 0.1% higher.
Chinese 10-year bonds held losses, with the yield up four basis points to 1.87%, set for the highest in around a week. The offshore yuan pared gains, after the central bank kept its tight grip on the daily reference rate for the currency.
Source: FINANCE.YAHOO
