CHINA’S MIXED SIGNALS
China reported year-on-year economic growth of 6.7% in the first quarter, in line with government projections of growth between 6.5% and 7% this year. The GDP growth number, along with data on industrial output and investment in buildings and other fixed assets, are suggesting a pickup in economic activity, wsj.com reported. However, seasonally adjusted quarter-on-quarter growth in the first three months of the year only reached 1.1%, the slowest rate since China’s National Bureau of Statistics started releasing quarterly data in 2011, and down from a revised 1.5% in the fourth quarter of 2015, it said. One economist cautioned that the quarter-on-quarter data shows China’s growth momentum in the short run “is not as optimistic as the headline GDP figure reflected”, wsj.com reported.