China’s NBS: Based on Q1 indicators, economy has got off to good start

Dhwani Mehta FXStreet

Additional headlines are crossing the wires from China’s National Bureau of Statistics (NBS), as the press conference continues after the release of the country’s key economic data.

Based on Q1 indicators, the economy has got off to good start.

There has been continued improvement in production and demand.

QoQ growth still shows continued growth of major indicators in Q1.

Economic performance in steady recovery.

Prices and employment are generally stable.

Foundation for domestic recovery not yet consolidated.

Service industry, smaller firms still face challenges.

Pork prices poised to continue falling.

CPI for the whole year likely to be kept in moderate range.

Market reaction

AUD/USD keeps its corrective downside intact, now trading close to daily lows of 0.7724 reached after the dismal Chinese macro news.

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Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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