Notifications Bell

Strong quarter for the Chinese GDP

Strong quarter for the Chinese GDP

The week starts with positive economic data from China

China’s National Bureau of Statistics revealed that fourth-quarter GDP rose by 4% compared to the year-ago figures. It topped the 3.3% expected. For 2021, China economists were looking for average growth of 8.4%. Overall, China’s economy grew by 8.1% in 2021.

At the same time, industrial production rose by 4.3% in December. According to the bureau, “we must be aware that the external environment is more complicated and uncertain, and the domestic economy is under the triple pressure of demand contraction, supply shock and weakening expectations.”

Despite the recent GDP increase, Goldman Sachs cut the country’s forecast for 2022 based on expectations that the zero-Covid policy will cause increased restrictions on business activity.

At the moment of writing, USD/CNH was trading at 6.3517.

Sources: cnbc.com, forexfactory.com

This information prepared by za.capex.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.

This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.

You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.

This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com

JME Financial Services (Pty) Ltd trading as ZA.CAPEX.COM acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via ZA.CAPEX.COM, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15. Magnasale Trading Ltd is the principal to the CFD purchased by investors.