China's NBS: Impact of Middle East conflicts on China is relatively small
|China’s National Bureau of Statistics (NBS) deputy head has stated during the Asian trading session on Thursday that the economy has started 2026 on a promising note despite a severe external environment that is hard won. These comments came after the release of the Q1 Gross Domestic Product (GDP) data, which showed that the economy grew at a faster-than-expected pace of 5% Year-on-Year (YoY).
Remarks
Impact on China's economy from global oil price volatility is relatively small.
Recovery in China's producer prices will have a positive impact on corporate profits.
Improving produce prices are driven by both changes in domestic supply and demand and higher global oil prices.
Middle east conflict will have some impact on China's exports.
China able to maintain relatively fast economic growth despite Middle East conflict.
China's economy faces some difficulties and challenges as global uncertainties are expected to increase
Domestic demand contributed to 84.7% of Q1 GDP growth.
Economic Indicator
Gross Domestic Product (YoY)
The Gross Domestic Product (GDP), released by the National Bureau of Statistics of China on a monthly basis, is a measure of the total value of all goods and services produced in China during a given period. The GDP is considered as the main measure of China’s economic activity. The YoY reading compares economic activity in the reference quarter compared with the same quarter a year earlier. Generally speaking, a rise in this indicator is bullish for the Renminbi (CNY), while a low reading is seen as bearish.
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