Mixed signals in China on the economy from industrial production and retail sales in January-February 2024: they marked, respectively, annual increases of 7% and 5.5%, above expectations of +5% and +5.2%.
Industrial production, after 6.8% in December 2023, reached its peak since February 2022. However, retail sales, after 7.4% in December, had a positive 13th month in a row but at the weakest pace since September 2023. Fixed investments, according to the National Statistics Office, rose (+4.2% on estimates of +3.2%), while unemployment went from 5.2% to 5.3%, the highest since July.
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