China’s economy has grown faster in the first quarter than expected, even as the property sector crisis deepens. Official data show GDP expanded by 5.3% in the first three months of 2024, compared to a year earlier. That beat expectations the world’s second-largest economy could see growth slow to 4.6% in the next first quarter.

Early in Asian trading, oil prices experienced a decline following Iran’s retaliatory strike on Israel during the weekend. Despite this, Brent crude, a crucial global oil price benchmark, remained lower but hovered around $90 per barrel on Monday morning.

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