China data shows signs of recovery
China’s industrial production came in at 2.4% y/y. This is higher than the previous 1.3% but slightly lower than the 2.6% expected. Its retail sales printed at 3.5% y/y, a significant improvement from the previous months -1.8%. Fixed asset investment grew 5.5% y/y YTD, higher than the 5.1% for December.
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