fbpx

PU Prime App

Exclusive deals on mobile

  • Market Insights  >  Weekly Outlook

24 April 2023,08:55

Weekly Outlook

China’s economy grew at the fastest pace in Q1, reaching 4.5%

24 April 2023, 08:55

Share on:
FacebookLinkedInTwitterShare
Share on:
FacebookLinkedInTwitterShare

The economic resilience of the world’s second-largest economy will be headwind for oil prices

China’s Q1 GDP grew by 4.5%, exceeding expectations of a 4.0% expansion and marking the fastest pace of growth since Q1 2022. On a quarter-by-quarter basis, the GDP grew by 2.2% in Q1, compared to a revised 0.6% rise in the previous quarter. Retail sales surged 10.6%, while value-added service output rose 5.4%, and value-added industrial production was up 3%, following the National Bureau of Statistics data. The data indicates that the economy is rebounding, led by consumption, services, and infrastructure. However, there are concerns about the strength of domestic demand, given easing inflation and surging bank savings. The government has set a target of around 5% for this year’s economic growth after failing to meet its 2022 goal.

Tesla’s price cuts caused a drop of more than 20% in its income and profit margins

Tesla’s first-quarter net income fell 24% from a year ago, despite sales rising 36% to a record 422,875 vehicles worldwide. The drop in net income is due to multiple price cuts across its model lineup, reducing the amount of money generated per vehicle. The company made an adjusted 85 cents per share, matching analyst estimates. Tesla’s operating profit margin fell from 19.2% in the first quarter of last year to 11.4% this quarter. CEO Elon Musk hinted that price cuts might not be over, stating that Tesla evaluates them daily to keep producing the maximum number of vehicles possible. Shares of Tesla fell 2% during trading and dropped 6% more in extended trading after the earnings were released.

Toyota unveils new electric sedan in China

Toyota introduced its first electric sedan, the bZ3, in China, and it received 5,000 orders on the first day of sales. The vehicle is part of Toyota’s bZ lineup of battery-electric cars, including the bZ4x SUV and two new models set to come to the Chinese market next year. The bZ3 sedan ranges over 500 km, and prices start at CNY 169,800 ($24,643), making it cheaper than the Tesla Model 3 and BYD’s Han sedan. Toyota is also developing hydrogen as a power source and plans to open a factory dedicated to hydrogen fuel systems in Beijing next year. Sales of battery-powered and hybrid passenger cars have surged in China in recent years, with one-third of new vehicles sold in March being electric or hybrid.

エッジで取引開始

FX、インデックス、金属どの取引を、業界最低水準のスプレッドと迅速な執行で行うことができます。

  • スタンダード口座では、50 $ からのご入金でお取引を開始できます。
  • 24 時間 365 日のサポートにアクセスすることが可能です。
  • 何百もの商品、無料の教育ツール、そしてお得なキャンペーンにアクセスできます。
今すぐ参加

Latest Posts

迅速かつ簡単な口座開設

ライブ口座の開設
  • 1

    登録

    簡単なプロセスで PU Prime のライブ口座を開設しましょう

  • 2

    資金

    広範囲に及ぶチャネルラインと対象の通貨で簡単に口座に入金できます

  • 3

    取引開始

    市場をリードする取引条件で何百もの商品にアクセスできます

Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.

Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.

By clicking the "Acknowledge" button, you confirm that you are entering this website solely based on your initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on reverse solicitation in accordance with the laws of your home jurisdiction.

Thank You for Your Acknowledgement!

Ten en cuenta que el sitio web está destinado a personas que residen en jurisdicciones donde el acceso al sitio web está permitido por la ley.

Ten en cuenta que PU Prime y sus entidades afiliadas no están establecidas ni operan en tu jurisdicción de origen.

Al hacer clic en el botón "Aceptar", confirmas que estás ingresando a este sitio web por tu propia iniciativa y no como resultado de ningún esfuerzo de marketing específico. Deseas obtener información de este sitio web que se proporciona mediante solicitud inversa de acuerdo con las leyes de tu jurisdicción de origen.

Thank You for Your Acknowledgement!