{"id":3630,"date":"2024-04-16T10:47:52","date_gmt":"2024-04-16T10:47:52","guid":{"rendered":"https:\/\/internationalpulse.net\/?p=3630"},"modified":"2024-04-16T10:47:52","modified_gmt":"2024-04-16T10:47:52","slug":"chinas-economy-grew-5-3-in-first-quarter-beating-expectations","status":"publish","type":"post","link":"https:\/\/internationalpulse.net\/?p=3630","title":{"rendered":"China&#8217;s economy grew 5.3% in first quarter, beating expectations"},"content":{"rendered":"<p> <br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/gdb.voanews.com\/41667c4f-5edb-43ff-982d-e7dc51b8d1aa_cx0_cy2_cw0_w800_h450.jpg\" \/><\/p>\n<div id=\"article-content\">\n<div class=\"wsw\">\n<span class=\"dateline\">HONG KONG \u2014\u00a0<\/span><\/p>\n<p>China\u2019s economy expanded at a faster than expected pace in the first three months of the year, helped by policies aimed at stimulating growth and stronger demand, the government said Tuesday.<\/p>\n<p>The world\u2019s second-largest economy expanded at a 5.3% annual pace in January-March, beating analysts\u2019 forecasts of about 4.8%, official data show. Compared to the previous quarter, the economy grew 1.6%.<\/p>\n<p>China\u2019s economy has struggled to bounce back from the COVID-19 pandemic, with a slowdown in demand and a property crisis weighing on its growth.<\/p>\n<p>The better-than-expected data Tuesday came days after China reported its exports sank 7.5% in March compared to the year before, while imports also weakened. Inflation cooled, reflecting deflationary pressures resulting from slack demand amid a crisis in the property sector.<\/p>\n<p>Industrial output for the first quarter was up 6.1% compared to the same time last year, and retail sales grew at an annual pace of 4.7%. Fixed investment, in factories and equipment, grew 4.5% compared to the same period a year earlier.<\/p>\n<p>The strong growth in January-March was supported by \u201cbroad manufacturing outperformance,&#8221; festivities-boosted household spending due to the Lunar New Year holidays and policies that helped boost investments, according to China economist Louise Loo of Oxford Economics.<\/p>\n<p>\u201cHowever, \u2018standalone\u2019 March activity indicators suggest weakness coming through post-Lunar New Year,\u201d she said. \u201cExternal demand conditions also remain unpredictable, as seen in March\u2019s sharp export underperformance.\u201d<\/p>\n<p>Loo noted that an unwinding of excess inventory, normalization of household spending after the holidays and a cautious approach to government spending and other stimulus will affect growth in this quarter.<\/p>\n<p>Policymakers have unveiled a raft of fiscal and monetary policy measures as Beijing seeks to boost the economy. China has set an ambitious gross domestic product (GDP) growth target of about 5% for 2024.<\/p>\n<p>Such strong growth usually would push share prices across the region higher. But on Tuesday, Asian shares fell sharply after stocks retreated on Wall Street.<\/p>\n<p>The Shanghai Composite index lost 1.4% and the Hang Seng in Hong Kong lost 1.9%. The benchmark for the smaller market in Shenzhen, in southern China, lost 2.8%.<\/p>\n<p>Stronger growth in the region&#8217;s biggest economy normally would be seen as a positive for its neighbors, which increasingly rely on demand from China to power their own economies. However, strong growth figures are also viewed as a signal that the government will hold back on further stimulus.<\/p>\n<\/div>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.voanews.com\/a\/china-s-economy-grew-5-3-in-first-quarter-beating-expectations\/7571719.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>HONG KONG \u2014\u00a0 China\u2019s economy expanded at a faster than expected pace in the first&#8230;<\/p>\n","protected":false},"author":1,"featured_media":3631,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[9],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.10 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China&#039;s economy grew 5.3% in first quarter, beating expectations - International Pulse<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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