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* Q1 GDP +0.6% q/q s/adj (f'cast +1.5%, Q4 +3.2% revised) * March industrial output +14.1% y/y (f'cast +17.2%, Jan-Feb +35.1%) * March retail sales +34.2% y/y (f'cast +28%, Jan-Feb +33.8%) * Jan-March fixed asset investment +25.6% y/y (f'cast +25.3%, Jan-Feb +35%) * Jan-March property investment +25.6% y/y (Jan-Feb +38.3%) MARKET REACTION China's blue-chip index was down 0.5%, while the Shanghai SE Composite Index was flat. COMMENTARY: EDWARD MOYA, SENIOR MARKET ANALYST, OANDA, NEW YORK "A wrath of Chinese economic data mostly came in below expectations and that along with heavy global bond y...

MacroBusiness Access Subscriber Only Content at 1:00 pm on April 16, 2021 | 7 comments Lordy, China data is a mess. Base effects have distorted everything. If we look through the fog what we find mostly is a disappointment. First-quarter GDP was only 0.6%, far below the forecast 1.4%. That is disguised by year on year figures which are wonky as anything 18.3%: The internals for the month of March were just as warped with industrial production at 14.1% versus 18% expected, retail sales at 34.2% beating 28% expected and fixed asset investment was 25.6% YTD roughly as expected. Below is the dist...

China is likely to have been the only large economy to grow last year as it rebounded from COVID lockdowns.