China: Economic recovery loses steam – UOB – by pabspiovano China GDP Banks
Economist at UOB Group Ho Woei Chen, CFA, reviews the latest set of data releases in the Chinese economy.“China’s Apr data largely missed expectations which increased concerns that its economic recovery momentum has failed to sustain. The year-on-year growth rates of industrial production and retail sales were bumped up by the low comparison base from Shanghai lockdown last year but were slower than expected, particularly for industrial production.
“Market’s expectations of the rebound in China may need to be toned down as the slowdown in external demand is exerting a far greater downside pressure on China. Furthermore, the latest data showed that China is still undergoing a property market downturn which continued to hamper investment and keep the consumer sentiment soft.”
“We maintain our call for another RRR cut this year but see less chance of a resumption in interest rate cut.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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