#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.
That would easily beat the government’s 2021 annual growth target of above 6%.
Have a healthy day, Keep the Faith!