Monday, June 27, 2022
Arabic Arabic Bengali Bengali English English French French Hindi Hindi Indonesian Indonesian Malay Malay Punjabi Punjabi Russian Russian Spanish Spanish Turkish Turkish Urdu Urdu

Chinese Economy Grew More Than 18% in First Quarter

Must Read

Realme C30 goes on sale starting 12 noon: Price, offers and availability

Realme recently launched the Realme C30, another addition to its entry-level C series smartphones. The handset has a...

CAA revises travel advisory for domestic flights

A health worker checks the temperature of a passenger at Karachi airport. -Picture Gulf TodayISLAMABAD: The Civil Aviation...



BEIJING—China’s economy surged 18.3% in the first quarter from a year earlier, a record rate of growth that reflected the recovery from a deep coronavirus-induced trough in early 2020 and the continued momentum of the world’s second largest economy.

The rate of gross domestic product growth in the first three months of 2021 was sharply higher than the 6.5% year-over-year growth recorded in the final quarter of 2020, though it fell short of the 19.2% growth expected by economists polled by The Wall Street Journal.

Analysts had anticipated GDP growth in the first three months of the year to jump sharply when compared with the year-earlier period, when the Chinese economy suffered a historic 6.8% contraction as the coronavirus’ initial emergence forced Beijing to shut down large swaths of the country.

In recent weeks, China has reported economic indicators showing growth of 30% or more from a year earlier.

The year-over-year GDP growth rate will almost certainly trend lower in coming quarters as the Chinese economy is measured against higher levels from the year-earlier period. China’s economy began its recovery in the second quarter of 2020 and recorded higher year-over-year growth figures through the remaining quarters of the year.


- Advertisement -
- Advertisement -

Latest News

- Advertisement -

More Articles Like This

- Advertisement -