Investing in stock markets involves the risk of loss.Past performance is not an indication of future performance. and so forth). That dour outlook—and the quick willingness to discount any hopeful sign—helps depress expectations and form the next bull market’s foundation, whether that is already underway or still to come.If you would like to contact the editors responsible for this article, please ©2020 Fisher Investments. (Here, too, most analysts look to measures comparing this cumulative year-to-date change versus last year to account for the lack of seasonal adjustment.) All rights reserved. Source: National Bureau of Statistics of China, as of 5/18/2020. China's economy showed signs of significant improvement in April from its COVID-19 lockdown as the coronavirus pandemic ebbs in the country, with industrial output growing in the positive territory, according to data provided by the National Bureau of Statistics (NBS) … China released several widely watched economic reports last Friday, providing more insight about the country’s performance since lifting its most severe COVID-containment policies in early March. Copied.

Some noted the recent rebound is concentrated in heavy industry. Investment in power, gas and water-supply infrastructure grew its fastest since 2016, which coincides with China’s last big stimulus push.In our view, extrapolating one month of data, positive or negative, as the new normal seems a bit myopic.

There is some sense in that. Updated 11:56, 17-May-2020 CGTN Share .


We aren’t saying April economic data are robust or signal an inflection point, and these measures may even weaken in the near term. Both these measures have improved markedly from the start of the year, when authorities extended the Lunar New Year holiday as part of China’s COVID-19 containment effort. In China’s first full month without national COVID restrictions, April industrial production rose 3.9% y/y, returning to positive territory after March’s -1.1% slip and January – February -13.5% decline (China typically consolidates January and February economic data to account for the monthly skew from the shifting Lunar New Year holiday).

China's industrial output rose 3.9% year-on-year in April, according to data released Friday by the country's National Bureau of Statistics.

With other major economies either still locked down or early in their reopening plans, flagging foreign demand will likely be a short-term headwind for Chinese growth—April purchasing managers’ indexes show falling export orders.Rather than get bogged down in details or project longer-term implications, we think April data best highlight a basic, high-level development: China is in the midst of a nascent recovery following a sudden, institutionally induced economic coma. Your browser is currently set to block cookies. In April, China’s industrial output grew by 3.9 per cent, retail sales fell by 7.5 per cent and fixed asset investment fell by 10.3 per cent, suggesting an uneven recovery From here, recoveries in China and elsewhere depend largely on economies reopening and staying reopened. But that so many broadly apply a uniformly dour outlook about the global economy’s prospects indicates how pessimistic sentiment has become.

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