Annual GDP growth came in at 5.3% in the January to March period, up from 5.2% in the fourth quarter, and 1.6% on a quarterly basis, 0.4% higher than in October to December, helped by "positive factors amassing, laying a strong foundation for achieving annual development targets," the
However, the bureau pointed to an external environment it said was becoming increasingly complex, problematic and unsettled, warning that the "foundation for stable and sound economic growth is not solid yet."
Annual retail sales growth came in at a lower-than-anticipated 3.1% while industrial output measured by producers' prices in March was up by 4.5%, but short of the 6% growth expected, and the country's troubled real estate sector exhibited ongoing weakness with annual investment plunging 9.5% in the January to March quarter.
In late January,
Nevertheless, strong demand from the rest of the world for Chinese-made goods delivered a
Together with generally solid growth numbers, the export performance would provide the government with a measure of reassurance that it is on track with the economic and monetary policies it is pursuing,
"With the Fed rate cut probability declining, I think the chance of a rate cut by the
Copyright 2024 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source