Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
It's all relative and these numbers from China are finger to the wind [Aug 5, 2009: China's Provincial Growth Figures Far Overstates Vs National Figures] [Dec 7, 2010: Wikileaks – China's GDP Figures are "Man Made" … Or at Least One Province's Are] but China's Q1 reported GDP is 8.1%. A great figure all things considered but below the 8.4% expected and far below the 9% bandied about earlier today – which helped drive up the global cyclical stocks. The 9% appears to be a mistake as it was a figure a Chinese economist stated was the goal for the year, not for the quarter… but once a rumor takes hold…
Retail sales were as expected at 14.8% growth and industrial output was up 11.9%.
Futures flipped from up a few to down 3.5 but we'll see if its all forgotten by tomorrow morning, as Europe and JPMorgan/Wells Fargo dominate.d from up a few to down 3.5 but we'll see if its all forgotten by tomorrow morning, as Europe and JPMorgan/Wells Fargo dominate.
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