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Better than expected China GDP improves market sentiment
Better than expected data out of China has given risk appetite a boost again. Growth in the world’s second largest economy is crucial for commodities and positive China data is positive for risk appetite. China Q1 GDP came in better than expected at +6.4% in Q1 (+6.3% exp, +6.4% in Q4 2018). China has been engaging in both fiscal and monetary stimulus to help protect the economy from a hard landing. It seems to be paying off. China Industrial Production jumped to 8.5% (+5.9% exp, +5.3% in February), whilst China Retail Sales also improved to 8.7% (+8.4% exp, +8.2% in February). Both major sectors which depict the ... (full story)