China's economy increases despite slowdown expectations
- Asian Market
- 9 months ago
China’s economy grew by 6.4% in this year’ first quarter compared to 2018, beating analysts’ expectations as it predicted GDP to retreat by 6.3%.
Although an increase it is the second-slowest growth rate since Beijing began to publish its records 27 years ago and falls short of the government expected target range of 6% to 6.5%
Beijing policymakers were happy that growth continues its upwards trend, growing at 6.3% year-on-year in the January-March period, up from 6.1% in January and February.
Industrial production, a measure of the output of the industrial sectors in China’s economy, including manufacturing, mining and utilities, grew by 8.5% in March from a year earlier.
Retail sales also increased by 8.7% in March from a year earlier, much higher than the expected figure of 8.4% and beating the combined performance of the months of January and February as it grew by 8.2%.
Source: Smart Trend Team