China’s GDP contracts 6.8% YoY in Q1 vs. -6.5% expected, AUD/USD little changed

China's economy contracted sharply in the first quarter due to the coronavirus outbreak led economic disruptions, the official data released at 02:00 GMT showed. 

The annualized first-quarter gross domestic product (GDP) came in at -6.8%, missing the forecasted print of -6.5% and down from the previous quarter's GDP of +6.0%. 

more to come ....