China's economy grows 18.3pc in post-Covid comeback

Sun Online Desk

17th April, 2021 11:33:11 printer

China's economy grows 18.3pc in post-Covid comeback

China's economy grew a record 18.3% in the first quarter of 2021 compared to the same quarter last year.

It's the biggest jump in gross domestic product (GDP) since China started keeping quarterly records in 1992.

However, Friday's figures are below expectations, with a Reuters poll of economists predicting 19% growth.

They are also heavily skewed, and less indicative of strong growth, as they are compared to last year's huge economic contraction.

In the first quarter of 2020, China's economy shrank 6.8% due to nationwide lockdowns at the peak of its Covid-19 outbreak.

Industrial output for March rose 14.1% over a year ago, while retail sales grew 34.2%.

China has promised to freeze its growth in emissions by 2030 and halt them totally by 2060.

(BBC)


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