Retail sales, which measure private and government spending, climbed 10.9% year-on-year, compared to 9.5% in February. Meanwhile, annual fixed-asset investment, a proxy for long-term spending, increased 9.2% in the January-March period. Urban investment rose 8.9% the previous month. Economists forecast retail sales to improve in March. Industrial production and fixed-asset investment were forecast to ease slightly.
China's Industrial Production unexpectedly rose by 7.6%
Broad indicators of China’s economic output rose much faster than expected in March, as the economy started the year off on a positive note. Industrial production, a broad measure of factory output, rose 7.6% in March from a year earlier, the National Bureau of Statistics reported in Beijing. That was the highest level since the end of 2014, and well above February’s 6.3% gain.
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