Growth compared with the final quarter of 2020, when a recovery was under way, was only 0.6 per cent, among the past decade's lowest. He said 0.6 per cent growth compared with the previous quarter was the past decade's second-lowest after the plunge at the start of 2020. Then, the economy shrank by 6.8 per cent in the first quarter, China's worst performance since at least the mid-1960s. Government data indicate consumer spending are accelerating while growth in factory output and investment are slowing. First quarter retail spending rose 33.9 per cent over a year earlier, while growth in March rose to 34.2 per cent, according to the NBS.

Source: New Zealand Herald April 16, 2021 04:33 UTC