As per the 11-page report published by Merrill Lynch's China economist Ting Lu, China's economy shows across-the-board green shoots.
Major take aways from reports:
Major take aways from reports:
- Prices of cement, iron ore, steel and transportation bounced recently.
- Inventory of coal, iron ore and perhaps some raw materials are declining.
- Tail risks especially those in euro zone have been reduced to a large extent.
- Our global economics team expects flat global growth at 3.1% in 2013 compared with 2012.
- 4Q12 year-over-year GDP growth to 7.8% from 7.5%
- 2012 annual GDP growth to 7.7% from 7.6%
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