However, underneath the gloss, lies some weak data as well:
1) Industrial output rose 5.7% vs a forecast of 6%
2) Fixed asset investment rose 10.3% vs a forecast of 10.8%
3) Secondary industry which includes manufacturing weakened to a 6% expansion
The above were mitigated by growth in the services sector which quickened to 8.4% and retail sales which rose 10.9% vs a forecast of 10.8% .
This goes to show that China's manufacturing sector remains weak and as long as that weakness persists, commodity prices are likely to remain subdued as well.
Fixed assets investment has been falling since reaching a high of more than 30% in 2009.
Source: Bloomberg
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