The latest economic data from China show the economy remains "bifurcated," Goldman Sachs economist Lisheng Wang says, pointing to strong manufacturing and exports, but weak housing and consumer spending. Wang says China's 1Q growth beat market expectations, with nominal GDP growth benefiting from higher producer price inflation. While consumption is broadly weak, Wang says services consumption growth continues to outperform that of goods consumption.

2026-04-16

The latest economic data from China show the economy remains "bifurcated," Goldman Sachs economist Lisheng Wang says, pointing to strong manufacturing and exports, but weak housing and consumer spending. Wang says China's 1Q growth beat market expectations, with nominal GDP growth benefiting from higher producer price inflation. While consumption is broadly weak, Wang says services consumption growth continues to outperform that of goods consumption.