China’s first-quarter economic growth data is out and it’s an expectation beater. The country’s GDP grew at a rate of 5.3% during the first three months, versus Reuters economist poll expectations of 4.6%. Oil prices rose following the release of the report. Strong GDP data is normally bullish for oil prices, especially when it comes from a consumer as giant as China. The publication noted, however, that other economic indicators including retail sales, real estate investment, and industrial output suggested domestic demand…
