US EditionChina economic growth accelerates to 5% in first quarter, beating expectations, on robust exports
Exports surged 14.7% in the quarter, helping offset weak consumption and property investment as Beijing faced rising energy costs, officials said.
- China's gross domestic product grew 5% in the first quarter, data from the National Statistics Bureau showed Thursday, surpassing the 4.8% forecast in a Reuters poll and accelerating from 4.5% in the prior quarter.
- Robust exports growth offset tepid domestic demand, though the National Statistics Bureau warned of an "acute" imbalance between "strong supply and weak demand" as the external environment becomes "more complex and volatile."
- Industrial output expanded 5.7% last month, beating expectations, while export growth slowed sharply to 2.5% in March from 21.8% in the January-to-February period as energy costs rose.
- Retail sales grew 1.7% last month, missing the 2.3% forecast, while the urban survey-based unemployment rate rose to 5.4% and property sector investment dropped 11.2%.
- Factory gate prices rose in March for the first time in over three years, signaling that Iran's war-fueled energy shock threatens corporate margins and clouds the growth outlook for the rest of the year.
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97 Articles
China’s first-quarter growth hits 5%, beating expectations
China’s economy beat expectations by growing 5% year-on-year in the first quarter, but analysts cautioned that the Iran war may cool expansion in the coming months. While Beijing — which holds vast crude reserves and is the world’s leading renewables producer — has weathered the worst of the energy shock, its export-oriented economy has softened over dropping global demand. A high-stakes meeting next month between the Chinese and US leaders coul…
China's economic growth exceeded expectations, as despite the poor outlook due to the war with Iran, the world's second-largest economy grew by five percent in the first quarter, while analysts had predicted 4.8 percent growth.
China's GDP in the first quarter grew 5% year on year, accelerating from the previous quarter. Growth was supported by exports, high-tech manufacturing and fiscal stimulus, which offset weakness in domestic demand.
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