Chinese Economic Data Beats Across The Board After Record Credit Injection

Overnight China reported a barrage of economic data for March and Q1, that not only showed the first back to back GDP acceleration in seven years, but beat across the board as investment picked up, retail sales rebounded and factory output strengthened, following record credit growth and a fresh rebound in China’s property markets which defy Beijing’s attempts to taper the country’s newest housing bubble.
The Q1 data highlights:
GDP rose 6.9%, above the 6.8% expected, and higher than the 6.8% in Q4 Fixed-asset investment rose 9.2% y/y, up from 8.1%, and higher than the 8.8% estimate, and in line with the highest forecast among 35 economists Industrial Production rose 7.6% y/y in March; also well above the estimated 6.3% gain, and higher than the highest forecast of 6.5% among 37 economists polled Retail sales rose 10.9% y/y in March; beating estimates of 9.7%

This post was published at Zero Hedge on Apr 17, 2017.