China's economy beats forecasts as stimulus offsets trade war damage – business live

Rolling coverage of the latest economic and financial news,
including surprisingly strong growth figures from China

8.49am BST

Today’s GDP report also shows a jump in investment by
China’s companies.

Private sector fixed-asset investment, a gauge of confidence of
Chinese private manufacturers and entrepreneurs, rose 6.4% in Q1
2019 first quarter compared to a year earlier.

Chinese industrial production and investment spending may be
more important signals.

China has become a significantly larger global manufacturer –
but rarely makes a product from start to finish. China is a link in
the chain, so stronger Chinese production signals stronger
production for other countries along the supply chain.

8.36am BST

China’s growth report has helped to push the oil price
up to a new high for the year.

Brent crude has hit $72 per barrel for the first time since last
November, on expectation of higher demand from Chinese
factories.

Brent oil reaches the highest level of 2019
(> USD 72/bbl) after US inventories seems to have dropped
unexpectedly. This comes on top of the already positive sentiment
based on US/China trade deal hopes and OPEC+ supply cuts.
WTI struggles to move higher…#OOTT
#oil

#energy
pic.twitter.com/OAncz6F6fA

Source: FS – All-News2-Economy
China's economy beats forecasts as stimulus offsets trade war damage – business live