China’s economic growth acceleratesREBOUND IN CONSUMPTION: China posted the fastest quarterly growth over the past year at 4.5 percent, but it still faces pressures amid an uncertain economic environmentAP, BEIJINGChina’s economic growth accelerated in the latest quarter as consumers flocked back to shops and restaurants following the abrupt end of anti-virus controls in the country. Analysts initially pegged economic growth to be about 4 percent. However, while consumption and retail sales have grown, other economic indicators with weaker growth, such as industrial output and fixed-asset investments, indicate an uneven recovery. Investors are expected to scrutinize China’s first-quarter economic data for indicators of recovery following years of harsh lockdowns and a crackdown on industries such as technology and real estate. Last year’s GDP growth fell to 3 percent, hampered by anti-virus controls that caused snap lockdowns and kept millions at home, sometimes for weeks on end.

Source: Taipei Times April 19, 2023 06:10 UTC