China Q1 GDP +1.2% q/q (expected +1.4%)

China economic growth data is mixed:

+1.2% q/q is disappointing

• expected +1.4%, prior +1.6%

+5.4% y/y is a beat

• expected +5.1%, prior +5.4%

Out at the same were 'activity data' for March 2025, with some very strong results indeed.

• China Industrial Output March 2025 surges to +7.7% y/y (expected 5.8%, prior +5.9%)