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China’s First-Quarter GDP Beats Forecast, Growing 4.8% Year-on-Year

April 18, 2022 by Forex Winner Leave a Comment

GDP

Source: National Bureau of Statistics of China

China’s Q1 GDP rose faster than anticipated despite the impact of Covid-19 lockdowns in some cities in March. CSI 300 Index down -0.53%, CNY USD up +0.09%

  • First-quarter GDP jumped by 4.8%, surpassing expectations of 4.4%, rising from a prior year.
  • Fixed asset investment for Q1 jumped by 9.3% from a year ago, surpassing expectations for 8.5% growth.
  • Investment in manufacturing increased by 15.6% in Q1 from a year ago, and infrastructure expanded by 8.5% over the same period.
  • Industrial production in March jumped by 5%, topping the forecast for 4.5% growth.
  • Starting in March, the nation has struggled to control its worst Covid-19 outbreak since the beginning of the initial phase of the pandemic in 2020.
  • The unemployment rate across 31 major cities in China expanded from 5.4% in February to 6% in March, the highest level on record since 2018.

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Filed Under: Forex News Tagged With: China

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