China's Industrial Output and Consumption Surpass Expectations as Property Slump Eases

China's factory production and consumer spending outpaced forecasts in early 2026, while the pace of property investment decline slowed, signaling economic resilience amid subdued growth targets.

• China's factory output and consumption exceeded forecasts in early 2026
• Property investment contraction slowed compared to previous months
• Beijing set a 2026 GDP growth target of 4.5% to 5%
• The 4.5%-5% target is the lowest on record since the early 1990s
• Market reaction included support for SPX, CL=F, and AUD/USD
• Improved data signals resilience in China’s economy despite cautious targets