Noting the data, I’ll be back separately with more on all this.

Gross Domestic Product for Q4 2025 4.5% y/y is a beat y/y and q/q

• expected 4.4%, prior 4.8%

1.2% q/q

• expected 1.0%, prior 1.1%

December 2025 data:

Retail Sales 0.9% y/y

• expected 1.2%, prior 1.3%

Industrial Production 5.2% y/y

• expected 5.0%, prior 4.8%

Fixed Asset Investment -3.8% y/y

• expected -3.0%, prior -2.6%

January to December property investment -17.2% y/y