Oil fails to hang on to gains scored after data show a rebound in China's economic growth in the first quarter following the lifting of COVID curbs.
A stronger-than-expected first-quarter rebound by China’s economy failed to provide a lasting lift for oil futures Tuesday, as investors continued to fret over the threat of a sharp U.S. and global economic slowdown.
In... A stronger-than-expected first-quarter rebound by China’s economy failed to provide a lasting lift for oil futures Tuesday, as investors continued to fret over the threat of a sharp U.S. and global economic slowdown. In March, total retail sales of consumer goods rose 10.6% year over year, and grew 7.1 percentage points compared with the first two months of the year. Industrial production output, which measures activity in the manufacturing, mining and utilities sectors, grew by 3.9% in March compared with the same time last year.
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