China’s Q1 GDP 2.2% qtr/qtr, as expected (last 0.6%); 4.5% yr/yr (expected 4.0%; last 2.9%).
March Retail Sales 10.6% yr/yr (expected 7.4%; last 3.5%),
March Industrial Production 3.9% yr/yr (expected 4.0%; last 2.4%),
March Fixed Asset Investment 5.1% (expected 5.7%; last 5.5%).
March Unemployment Rate 5.3% (expected 5.5%; last 5.6%)
TD Securities raised its forecast for China’s 2023 GDP growth to 6.0% from 5.3% after the release of Q1 growth figures.
International Monetary Fund expects China to be the top contributor to global growth over the next five years.