China Q1 2023 GDP – structural weakness

CHINA ADVISORY - Report 18 Apr 2023 by Andrew Collier

Some quick comments about the Q1 2023 numbers:

The headline numbers were stronger than expected. GDP growth was 4.5% compared with a consensus 4%. Retail sales were 10.6% compared with 7.5%. On the industrial side, one positive number that jumped out was that apparent oil demand rose 9.5%.

However, past the headline numbers, things aren’t quite so rosy.

Now read on...

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