China's post-Covid year gets off to a disappointing start
Publishing timestamp: 2023-03-15 01:02:45
Summary
China's retail sales growth for the first two months of the year only matched expectations, while real estate investment fell further. Industrial production for the same period rose by 2.4%, less than expected, while fixed asset investment exceeded expectations. However, investment in real estate fell by 5.7% in January and February from the previous year, and unemployment ticked up to 5.6% in February. The article notes concerns about tepid consumer spending and a lack of bright spots in the data, but some analysts expect the real estate market to recover later this year. The article also mentions pressure on China's economy from the global environment, including rising inflation and protectionism.
Sentiment: MIXED
Keywords: business news, stock markets, market insider, breaking news: asia, markets, byd co ltd,
Source: https://www.cnbc.com/2023/03/15/china-economy-data-on-industrial-production-fixed-assets-retail.html