Spokesman for the China Statistics Bureau: Economic activities are expected to improve in May

The National Bureau of Statistics (NBS) has made the above comments only after watching the downbeat retail sales and industrial production data for April, which have raised concerns over the financial health of the world’s second largest economy—Chi

May 16, 2022 - 12:02 PM 240 views

Spokesman for the China Statistics Bureau: Economic activities are expected to improve in May

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© Spokesman for the China Statistics Bureau: Economic activities are expected to improve in May

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According to Reuters, the China Statistics Bureau Spokesman predicts, "There is a hope to boost economic operations by May." He also added, "China has the potential to sustain stable consumer inflation."

The National Bureau of Statistics (NBS) has made the above comments only after watching the downbeat retail sales and industrial production data for April, which have raised concerns over the financial health of the world’s second largest economy—China.

Key Comments

·         In COVID-hit areas, China is gradually pushing towards a production restart.

·         We anticipate a quick rebound in consumption.

·         The slow movement of the global economy put some pressure on China’s exports.

·         We are anticipating China’s economy to recover quickly.

·         Forecasts that China's economy will remain relatively stable in the second quarter.

The Market Implications

The news fails to influence the recent risk-off sentiment, keeping the AUD/USD price heavy near the intraday low of 0.6900 points.

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