The industrial side of things really helped pick up the slack. I think the consumer is still looking very weak if you’re looking at the retail, sort of the retail sales. Component, if you’re looking at any of the other kind of home prices, real estate, the places where we really want to see a pickup in consumption, we just don’t have it. As you mentioned retail sales actual is up 3.1. We were expecting a 4.8 and even that was sort of on the weekend. The maybe positive lining here is that the fixed investments are actually quite strong. So that really shows that the government support is there. You know companies are spending on factories on building out their current locations. This is a positive and it also shows that you know during the NPC this year we heard quite a bit about further support of the economy potentially going forward. So this shows that really coming through is even when the consumer is not necessarily there quite yet. It’s to your point it’s hard to come up with a consistent read through here because the so the GDP. Actually beat every single forecast, yeah. But when you look at China, new home sales, January to March and property development investment that’s continuing to fall as well. You know, turn this Greek into English for me. It is a big question, right? It’s like if all estimates were beat by GDP, what is actually driving that? And it looks like for now that it’s really driven by industry and exports, because remember in March we had that decline in exports that wasn’t so great. But the first two months beat estimates and they really exceeded expectations. We’re also having some strength in the US consumer, so retail sales advanced. The jobs market is incredibly strong. So that should help Dr. Exports and manufacturing going forward as well. Really the only thing that explains it is factory output at this point. And you can’t have an economy continuing to grow strong just on one leg of the stool. You also need to have the consumer there, you need to have the real estate market there and with these numbers under score. Is that’s not happening. If anything, it’s being more concentrated into factories and the manufacturing sector.
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