China’s NBS: Economy facing rising pressures from coronavirus epidemic

Dhwani Mehta FXStreet

Following the release of the first-quarter Chinese GDP data and March activity numbers, China’s National Bureau of Statistics (NBS) released a statement, via Reuters, expressing its take on the macro data.

China facing rising pressures from coronavirus epidemic.

China facing obviously increasing uncertainties, instabilities.

China facing increasing pressure from imported COVID-19 cases.

China facing new difficulties and challenges in resuming work and production.

China facing new difficulties and challenges in advancing social, economic development.

Major economic indicators visibly improved in March.

Economic activity is being restored.

Employment situation remains stable despite impact of COVID-19.

There has been no large-scale layoffs.

China's economic rebound will likely continue.

Expects China's economic performance in Q2 to be much better than Q1.

AUD/USD remains bid despite weaker-than-expected China Q1 GDP

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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