Rolling coverage of the latest economic and financial news,
including surprisingly strong growth figures from China
China’s economy boosted by factories and consumers
- Strongest industrial production growth in five years
- Retail sales also beat forecasts
Analysts: stronger growth than expected
- Coming up: UK inflation and house prices
Today’s GDP report also shows a jump in investment by
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.
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
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
Source: FS – All-News2-Economy
China's economy beats forecasts as stimulus offsets trade war damage – business live