global overview

The unexpected jump in UK inflation has pushed sterling centre stage while cooling measures have failed to dent Beijing's double-digit growth and eastern Europe shifts into being driven by domestic demand

China2 China posted an impressive 11.1% GDP growth rate in Q1, compared to a consensus expectation of 10.4%, according to Herve Lievore, strategist at Axa Investment Managers. On monthly data, he said exports grew by almost 28% year on year in Q1, 10 percentage points higher than imports. Meanwhile, urban fixed asset investments (a proxy for capital expenditures) increased by 25.3% in value terms. "One of the most striking features of the Chinese economy is its apparent lack of cycle" he added. "Since the designation of President Hu Jintao in early 2003, GDP growth has never been lower t...