China’s Statistics bureau says its expects a mild recovery in consumer inflation

China’s National Bureau of Statistics (NBS) press conference following the data earlier:

• China Q1 2024 GDP growth 5.3% y/y (expected +5.0%)
• China: March Industrial output +4.5%y/y (expected +5.4%) Retail sales +3.1% (4.5% exp)

Comments from deputy head of NBS Sheng Laiyun:

• Consumer inflation will show a mild recovery
• China’s economy made a good start to the year with positive factors standing out
• laying a strong foundation for achieving the annual development targets
• China will actively cultivate and develop new quality productive forces and strengthen the implementation of macro policies
• Will continue to effectively pursue high-quality economic growth and appropriately increase economic output
• it is necessary to further enhance market confidence and the economic dynamic amid a complicated external environment and critical stage in Chinese economic adjustment and transition

This article was written by Eamonn Sheridan at www.forexlive.com.