China PMI readings for March, although mixed, suggest that momentum in industry remains weak. This, along with a stronger base for comparison, should have kept industrial output growth (due at 03.00 BST) on a downward trajectory last month. Low oil prices should have continued to support household consumption last month, boosting retail sales growth slightly. “We expect investment growth to have been broadly flat. We expect GDP growth to have slipped slightly below 7.0% y/y last quarter.” – Capital Economics 

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