China economy shows muted improvement during holiday period – Bloomberg – by anilpanchal7 China RiskAppetite EconomicIndicator NewsTrading Fundamental Analysis
suggesting few signs of improvement in Chinese economic despite its second month without Covid Zero curbs. The research, however, marks the Lunar New Year holiday season as marking a lid on some activities.showed a slight uptick in activity in January, versus a contraction in December, reported Bloomberg.Early signs showed a rise in activity as more than 300 million trips were made during the holiday, nearly 90% of pre-pandemic levels, according to the Ministry of Culture and Tourism.
Other indicators weren’t as positive, either as business activity slowed during the Lunar New Year season or as the global economy continued to struggle. Bloomberg Economics generates the overall activity reading by aggregating a three-month weighted average of the monthly changes of eight indicators, which are based on business surveys or market prices.The news seems to weigh on the market sentiment and exerts downside pressure on the AUD/USD prices holding lower grounds near intraday bottom near 0.7085 by the press time.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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