Chinese export sector drives growth beats

Tuesday, 15 March 2022

China’s Jan/Feb data is out today and voila, it is booming versus consensus with retail sales at 6.7%, industrial production at 7.5% and fixed asset investment at 12.2%:

Under the bonnet, real estate did much better than private data suggested it was doing. Floor area starts still fell materially year-on-year but the pace of falls slowed from -28% to -12.2%:

We are still at the lowest level in six years (barring COVID):

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.