Friday, 19 October 2018
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China's April Economic Data Show Mixed Bag as Industry Holds Up

China's economic momentum broadly held up with industrial production exceeding forecasts, while consumers dialed back a notch.

Industrial output rose 7.0 percent in April from a year earlier, versus a projected 6.4 percent in a Bloomberg survey and 6 percent in March

Retail sales expanded 9.4 percent from a year earlier, versus a forecast 10 percent

Fixed-asset investment rose 7.0 percent year-on-year in the first four months, compared with an estimated 7.4 percent

The reports are among the first official readings unaffected by the Lunar New Year holiday, which skewed year-on-year comparisons for the first three months. While the economy in that period remained robust, expanding at the same 6.8 percent pace as the prior two quarters, March data showed some deceleration.

"Policy makers will likely become less concerned about slowing activity and monetary growth," Goldman Sachs Group Inc. economists wrote in a recent note. "We expect the government to maintain its recent policy stance because inflation is likely to remain subdued and, more importantly, uncertainties related to trade remain high."

Source : Bloomberg

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