China’s Q-1 GDP Grew at a Record Pace

#China #GDP #retail #growth

China’s Q-1 started out good, especially in retail sales, which is behind the economic recovery“– Paul Ebeling

China’s economic recovery quickened sharply in Q-1 from a coronavirus-induced decline earlier last yr, driven by stronger demand at home and abroad and continued government support for smaller firms.

Retail sales increased 34.2% Y-Y in March, beating a 28.0% gainer expected by analysts and stronger than the 33.8% jump seen in the 1st 2 months of the yr.

GDP (gross domestic product) spiked a record 18.3% in Q-1 from a yr earlier, official data showed Friday following 6.5% growth in Q-4 of Y 2020.

The increase is the strongest since at least Y 1992, when official Quarterly record keeping began.

The world’s 2nd-largest economy is expected to grow 8.6% following a 2.3% rise last yr, which was its weakest in 44 yrs but still made China the only major economy to avoid contraction.

That would easily beat the government’s 2021 annual growth target of above 6%.

Have a healthy day, Keep the Faith!