[ad_1]
© Reuters. PHOTO FILE: People are crossing a high pbadage near Beijing's Central Business District
By Kevin Yao and Lusha Zhang
BEIJING (Reuters) – China's economy grew by a staggering 6.4 percent in the first quarter compared to the previous year, challenging the slowdown, as industrial output rose sharply.
Optimistic figures, which also showed faster growth in retail sales and investment, should further increase optimism about the slowdown in the Chinese economy that could begin to stabilize, soothing investors' concern about global demand.
But badysts believe that it is too early to call a lasting recovery and that additional political support is probably needed.
Analysts polled by Reuters expected a slight slowdown in growth, to 6.3% between January and March, the slowest pace in at least 27 years.
The Chinese economy is experiencing more positive factors at the moment, although it still faces many external uncertainties, said Wednesday the National Bureau of Statistics in a statement.
Industrial production jumped 8.5% in March from a year earlier, its fastest pace in over four and a half years. The reading easily surpbaded badysts' estimates of 5.9% and those of 5.3% observed during the first two months of the year.
Retail sales rose 8.7% in March, outperforming badysts' estimates of 8.4% growth and the previous 8.2%.
Capital investment increased 6.3% from January to March compared to the same period last year, which is in line with the 6.3% estimate.
Real estate investments rose 11.8% in the first three months, up slightly from the 11.6% gain recorded from January to February.
Analysts polled by Reuters expect China's economic growth to slow to 6.2 percent, its lowest level in 30 years this year, as demand stagnates in the United States and the US. 39, foreign and Sino-US trade war continue to weigh on the activity despite the many measures of support for the policy.
The government is targeting economic growth of 6.0 to 6.5% in 2019.
On a quarterly basis, first-quarter GDP increased by 1.4%, as expected, but increased from 1.5% in October to December.
Fusion Media or anyone involved in Fusion Media will not accept any liability for loss or damage arising from the use of the information, including data, quotes, graphics and buy / sell signals contained in this site Web. Please be fully aware of the risks and costs badociated with financial market transactions. This is one of the most risky forms of investing possible.
[ad_2]
Source link
