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LGT Navigator: Signs of economic recovery in China

17 April 2019

China's economy grew faster than expected by +6.4% in the first quarter of the current year. Industrial production also grew strongly in March by +8.5% year-on-year, expanding at a rate not seen since July 2014. In addition, initial economic data in March had indicated that the economy could develop positively after a difficult start to the year.

The minutes of the US Federal Reserve's last monetary policy decision on March 20 confirmed the Fed's wait-and-see attitude. There are still "significant uncertainties" in the economic outlook, and latest US inflation data will probably not put pressure on the Fed to raise key interest rates again in the near future. ECB President Mario Draghi continues to see growth risks for the euro zone and recent economic data have confirmed that the pace of growth in the euro area is slowing. Nevertheless, the likelihood of a recession remains low.

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