financetom
Economy
financetom
/
Economy
/
China's economy grows 4.5% in first quarter
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
China's economy grows 4.5% in first quarter
Apr 17, 2023 10:43 PM

China's economy grew at a faster than expected clip in the first quarter, official data showed on Tuesday, expanding 4.5 percent year-on-year, as policymakers move to bolster growth following the end of strict COVID-19 curbs in December.

Share Market Live

NSE

Analysts polled by Reuters had expected gross domestic product (GDP) to expand 4.0 percentfrom a year earlier, quickening from 2.9% in the fourth quarter.

On a quarter-by-quarter basis, GDP grew 2.2 percent in January-March, data released by the National Bureau of Statistics showed, compared with expectations for a 2.2 percent increase and a revised 0.6 percent rise in the previous quarter.

Recent data suggest the economy is rebounding after disruptions caused by the sudden lifting of COVID-19 curbs in December, led by consumption, services and infrastructure, but easing inflation and surging bank savings are raising questions over the strength of domestic demand.

The government has set a modest target for economic growth of around 5% for this year, after badly missing the 2022 goal.

First Published:Apr 18, 2023 7:43 AM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US Dollar Falls Widely in Europe as 'High Beta' FX Outperform
US Dollar Falls Widely in Europe as 'High Beta' FX Outperform
May 24, 2024
06:48 AM EDT, 05/24/2024 (MT Newswires) -- The US dollar fell against most major currencies in early European trade on Friday as 'high beta' counterparts outperformed despite weakness in some risky asset prices and a broad bid for government bonds. Most major currencies rose against the US dollar with the Swiss franc and Japanese yen the only exceptions in the...
Analysis-Rising US debt burden spooks some bond investors ahead of November election
Analysis-Rising US debt burden spooks some bond investors ahead of November election
May 24, 2024
NEW YORK (Reuters) - Investors are bracing for a flood of U.S. government debt issuance that over time could dwarf an expected rally in bonds, as they see no end in sight for large fiscal deficits ahead of this year's presidential election. While bond markets so far this year have been driven mostly by bets on how deeply the Federal...
Central bankers should acknowledge blind spots in a less certain world, Fed's Mester says
Central bankers should acknowledge blind spots in a less certain world, Fed's Mester says
May 24, 2024
AMELIA ISLAND, Florida (Reuters) - In nearly 40 years working for and helping lead the Federal Reserve, Cleveland Fed President Loretta Mester was part of a revolution that saw the U.S. central bank offer ever more detailed and plentiful commentary on the economy and monetary policy. As she heads towards mandatory retirement in June, the Cleveland Fed chief has a...
Global equity funds see strong weekly inflows on U.S. rate cut hopes
Global equity funds see strong weekly inflows on U.S. rate cut hopes
May 24, 2024
(Reuters) - Global equity funds secured robust inflows in the week ended May 22, driven by optimism over slowing inflation and expectations of U.S. Federal Reserve rate cuts in the latter half of the year. According to Lipper data, global equity funds attracted $11.1 billion in inflows, a 22% increase from the previous week. U.S. equity funds received most of...
Copyright 2023-2025 - www.financetom.com All Rights Reserved