Q1 results in China show that the economic engine that is running at a lower rpm than expected:

#GlobalEconomics #write2earn🌐💹 #ChinaEconomy #BTCBearish

BEIJING, April 27 (Reuters) - China's industrial profits fell in March and slowed gains for the quarter compared to the first two months, official data showed on Saturday, raising doubts about the strength of a recovery for the world's second-biggest economy.

Cumulative profits of China's industrial firms rose 4.3% to 1.5 trillion yuan ($207.0 billion) in the first quarter from a year earlier, National Bureau of Statistics (NBS) data showed, slower than a 10.2% rise in the first two months.

source: Reuters: https://www.reuters.com/world/china/chinas-first-quarter-industrial-profits-rise-slower-pace-2024-04-27/

The latest data suggests that China’s underlying demand remains weak and that the economy is likely being boosted by government-subsidized investment in new technologies. Meanwhile, Chinese prices are flirting with deflation, producer prices are falling, inbound foreign investment has weakened, and households are increasing savings to offset the loss of wealth due to declining property prices.

Source and full article: Deloitte: https://www2.deloitte.com/us/en/insights/economy/global-economic-outlook/weekly-update.html