Economic Data From China Drives Market Lower | investing.com – Investing.com

Economic Data From China Drives Market Lower | investing.com – Investing.com

A wrath of Chinese economic data mostly came in below expectations and that along with heavy global bond yields was enough to drag sentiment down. China's index extended its slide following the mixed economic data. and futures slid slightly but are still near record high territory. The was unfazed by the economic data that mostly came in-line with expectations.

China's domestic outlook is looking good following a better-than-expected retail sales reading. The March YTD year-over-year reading surged by 33.9%, higher than the 31.7% consensus estimate and 33.8% prior reading. China's economy expanded by 0.6% in the first quarter, lower than the 1.4% estimate, and much slower than the upwardly revised 3.2% prior reading. The year-over-year record print of 18.3% was a slight miss of the 18.5% estimate, but still a record when compared to the 15.3% rate seen in 1993.

It appears that the normalization of policy is starting to show some slowness across industrial production and property investment. The March reading of disappointed with a worse-than-expected decline from 35.1% to 24.5%.

China's growth will trend lower going forward, but this mixed reading will likely prevent policymakers from tightening too quickly.

Gold

prices drifted slightly lower following