March/Q1 2019 Macro Data Recap

China’s economic data surprised on the strong side almost across the board in Q1, consistent with our views of a stabilization in the economy early this year. First quarter real GDP rose 6.4% y/y on the back of shining March data, flattered by base effects from the timing of the Chinese New Year holiday. Sequential improvement is underway given strong corporate credit growth which will consolidate the recovery in Q2, led by infrastructure and property construction

Posted April 24, 2019
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