Home Economy China's economy grew at a record 18.3%:

China’s economy grew at a record 18.3%:


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The Chinese economy grew a record 18.3% in the first quarter from a year earlier when the country first started to shut down.

This growth was the strongest since quarterly records began in 1992 and was led by a recovery in exports and an increase in domestic consumption.

This is slightly weaker than the 19% expansion forecast by economists and happier than the first quarter of last year when the economy contracted 6.8%.

Compared to the last quarter of last year, growth slowed to 0.6% in the three months through the end of March, according to the National Bureau of Statistics.

This is down from a 3.2% correction in the fourth quarter and is well below the 1.5% expectation increase and raises concerns about the sustainability of the world’s second-largest economic recovery.

Julian Evans-Pritchard, senior China economist at Capital Economics, said: “As a result the economy has risen above its pre-viral trend and policy support has been pulled back, the recovery after Covid. China’s is leveling off.

We expect quarterly growth to remain modest for the rest of this year as the recent boom in construction and exports is over, pulling operations back on trend. .

Retail sales rose 34.2% year-on-year in March, beating the 28% increase analysts expected and outperforming the 33.8% increase in the first two months of the year.

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