Global News Of Note: China’s Economy, Metals Output Expands
What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:
- According to China’s National Bureau of Statistics, the country’s economy expanded 4.5 percent in the first quarter of 2023 compared to the same period in 2022. China’s economy grew by just 2.2 percent at the end of 2022, so this latest reading is a sign the country is bouncing back from its COVID-19 restrictions, which officials eased earlier this year. The growth was due mostly to an expansion in consumer spending. Read more from The Wall Street Journal.
- Reuters reported last week that China’s crude steel output rose 6.9 percent from March 2022 to March 2023 due to the fact that steel mills boosted their output amid improved margins and expected robust downstream demand in the peak construction activity season. The country’s primary aluminum output expanded three percent year-over-year, meanwhile. Read more about that report here.