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#BREAKING China just surprised everyone. While the world was watching Iran.
China beat forecasts across the board today. The one number they missed changes everything.
Industrial Production: 6.3%. Forecast 5.3%. Beat. Retail Sales: 2.8%. Forecast 2.6%. Beat. Fixed Asset Investment: 1.8%. Forecast was -5.0%. Massive beat.
But unemployment rose to 5.3%. Above forecast. Jobs weakening even as factories run hot.
House prices still falling. Down 3.2% year on year. Property crisis not over.
The honest read.
Factories strong. Consumers spending. Business investment recovering. But jobs and housing still hurting.
And the timing of these strong numbers is not accidental.
Trump visits Beijing on March 31st. China just showed up to that meeting with its best economic data in months.
Strong factories, recovering investment, growing retail sales.
Beijing wants Trump to see a confident China at the negotiating table. Not a struggling one.