Pre-Market Primer: China Is Officially Slowing Down
Commodity and stock futures turned red today after China published disappointing economic data. GDP growth over last year’s first quarter slowed from 8.9% to 8.1% falling short of economists’ estimates. Industrial production for March increased by 11.9% over March 2011 beating estimates. Retail sales last month remain strong at 15.2% over last year. Let’s put this in perspective: If the US or any European country grew by 8.1% the only likely explanation would be that some number-cruncher forgot to carry a zero or something probably because austerity measures ruined the state’s green eyeshade budget. But the world economy has ...
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