The latest series of data reaffirms that the growth momentum in China has deteriorated. The closely watched GDP growth slowed to +7% y/y in 1Q15, the slowest pace since 4Q09 and down from +7.3% in the prior quarter. Whilst this came in line with expectations, the government would have to accelerate monetary easing so as to achieve its +7% full year growth target. Other economic data also pointed to moderation in growth momentum.
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China’s GDP Expanded +7%, All Key Indicators Disappointed
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