Popular media in China (Global Times tabloid) with an upbeat report on the data from China earlier. The newspaper doesn't have much time for non-Chinese media:
- Despite factors including a slowdown in the real estate industry, China’s economy emerged from the shadows of the pandemic over the past 12 months, achieving a remarkably steady growth, and refuting the continuous attempts by certain foreign media outlets to paint a negative picture of China's economic recovery
- robust GDP growth of 5.2 percent for 2023, successfully beating the government’s pre-set yearly target of around 5 percent
- strong internal dynamics of the world’s second-largest economy ... continuing to drive global resurgence
Despite the Q4 data missing estimates, GT report:
- standout performance in the fourth quarter, growing 5.2 percent between October and December
To be fair, a 5.2% growth rate for the year, if that's to be believed, is a good performance.
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The data ICYMI:
- China Q4 2023 GDP 5.2% y/y
- China December industrial output +6.8% y/y (exp +6.6%) Retail Sales +7.4% (exp +8.0%)
As a ps., and what's keeping me honest, here's Australia's Q3 GDP result (the latest available):
This popular pic is captioned the other way 'round for China
