China’s growth mixed as output jumps, consumption lags

News Snapshot:

The offshore Chinese yuan edged up slightly by less than 0.1 per cent after the data release and after the central bank extended support to the currency via its daily reference rate. The Australian dollar, which is seen as a proxy for China, climbed 0.1 per cent. “The economy kept rebounding and improving in January and February with various policies taking effect,” the NBS said in a statement accompanying the release. “But we also need to see that the external environment is increasingly complex, grim and uncertain, and the problem of insufficient domestic demand still remains. The foundation for the...