Chinese GDP came in as expected, hitting 2009 lows of 6.8%.
“Growth is still soft but it’s not collapsing,” said Shane Oliver, head of investment strategy and chief economist at AMP Capital Investors Ltd. in Sydney. “Policy stimulus measures are helping but more is needed to help the economy as it transitions from a reliance on manufacturing and investment to services and consumption.”
Industrial production rose 5.9 percent in December from a year earlier, compared with the 6 percent median estimate of analysts and November’s 6.2 percent. Retail sales increased 11.1 percent from a year earlier, compared with the 11.3 percent seen by economists. Fixed-asset investment excluding rural areas expanded 10 percent last year, the weakest pace since 2000.
Hang on for a rebuttal from a certain Mr. Marc Faber.
DEVELOPING…
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