Chinese Economy's Strong Start to 2024 Is Already Fading [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — China announced faster-than-expected economic growth in the first quarter – along with some numbers that suggest things are set to get tougher in the rest of the year. Gross domestic product climbed 5.3% in the period, accelerating slightly from the previous quarter and beating estimates. But much of the bounce came in the first two months of the year. In March, growth in retail sales slumped and industrial output decelerated below forecasts, suggesting challenges on the horizon. Article content Article content “Markets may find it hard to be convinced by the strong GDP growth print and difficult to reconcile with the mixed March data,” said Xiaojia Zhi, chief China economist at Credit Agricole. “There could be also concerns that if GDP growth remains above 5% as data suggest, policymakers would be quite comfortable and see no pressure to furthe
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