China’s GDP grows 18.3pc in the first quarter, 1pc below expectations.
From the National Bureau of Statistics
CHINA’s economy grew 18.3 per cent – a record jump – in the first quarter, but still slightly below expectations of a Reuters poll of economists who predicted 19 per cent growth year on year.
The BBC said the figures were “heavily skewed”, and less indicative of strong growth, as they are compared to last year’s huge economic contraction.
Comparing growth for the last quarter with the last quarter of 2020, for instance, the Chinese economy grew by a far smaller increment of 0.6 per cent, noted BBC News.
In the first quarter of 2020, China’s economy shrank 6.8 per cent due to nationwide lockdowns at the peak of its Covid-19 outbreak.
