Monday, April 22, 2019

China Makes Steady Steps at Economic Recovery

China's economy grew at a steady 6.4% pace in the three months to March, official figures released Wednesday showed. 

The latest growth figures were in line with the 6.4% rate posted in the last three months of 2018. 

This has defied expectations of a further slowdown – as Beijing has taken steps to boost its slowing economy. Industrial production jumped sharply – 8.5% in March – and consumer demand showed encouraging signs of recovery. In fact, retail sales for March rose 8.7% on a year earlier, and fixed asset investment expanded to 6.3% from a year earlier. 

China's rate of growth is closely-watched for the potential knock-on effect on world trade. 

Therefore, the above is certainly good news for everybody because investors have ranked China’s economic lethargy and the trade war with the US as the biggest risks facing the faltering global economy. 

While China watchers advise caution with Beijing's official GDP numbers, the data is seen as a useful indicator of the country's growth trajectory. "There is no denying that China's economy ended the first quarter on a stronger note", Capital Economics China economist Julian Evans-Pritchard said. 

Still, analysts warn it may still be too early to call a sustainable turnaround in China, and further policy support is needed to maintain momentum in the world’s second largest economy. 

Many had expected a recovery only in the second half of 2019. But methinks it has come sooner. 

Celtic's Scottish Premiership lead stands at nine points as Hibernian held them to a goalless draw on Sunday. With four games remaining, Neil Lennon's side need four points to wrap up the title – and it looks like it’s going to take them a wee while before they can be crowned.

And in the EPL game between Liverpool and Cardiff City, three points to the Reds when they beat the latter 2-0.

Georginio Wijnaldum’s rasping strike had put Liverpool in front in the fifty-seventh minute and then James Milner stepped up and buried the penalty into the corner in the eighty-first minute after a Bluebird centre-back had wrestled with Mo Salah. 

Up next for the Reds, a Friday game versus Huddersfield Town at Anfield.

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