Economic growth surged in y/y terms in January and February. But the picture is more mixed after accounting for favourable base effects. Travel restrictions weighed on retail sales but boosted industrial output and investment. We think activity will remain strong during the first half of this year, before giving way to a weaker second half.
Note: Chief Asia Economist Mark Williams will be talking to Senior China Economist Julian Evans-Pritchard about the Five-Year Plan at a Drop-In event on Tuesday, 16th March. If you haven’t done so already, you can register here.
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