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China’s economy grew 5.3% in the first quarter, beating expectations

  • The gross domestic product rose by 5.3% in the first quarter compared to a year ago, as per the National Bureau of Statistics.
  • The 5.3% increase also showed a faster pace compared to the previous quarter's 5.2% growth.
  • This growth exceeded economists' expectations, surpassing the estimated 4.6% from a Reuters poll.
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China's economic output rose unexpectedly sharply in the first quarter of 2024. Gross domestic product (GDP) rose by 5.3 percent.

·Berlin, Germany
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China's economy grew 5.3 percent in the first quarter, data from China's statistics bureau shows. That topped estimates by analysts who had counted on gross domestic product (GDP) growth of 4.6 percent. However, a number of other economic data for March (real estate investment, retail sales, industrial production) show that domestic demand remains weak, slowing overall momentum, Reuters reported.

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Winnipeg Free Press broke the news in Winnipeg, Canada on Monday, April 15, 2024.
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