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Gross domestic product in China, the world’s second-largest economy, grew by about 5.4% year-on-year in the first quarter of this year, according to data released Wednesday morning, April 16, by the National Bureau of Statistics. The GDP reached 31,875.8 billion yuan, an increase of 1.2% from the fourth quarter of 2024, exceeding market expectations of about 5.2% growth, benefiting from a large-scale stimulus package that began in late 2024.
\nUnemployment fell to 5.2% in March from 5.4% in February, with the average unemployment rate in urban areas reaching 5.3% in the first quarter. Meanwhile, retail sales rose by 5.9% in March year-on-year, compared to 4% in February, exceeding expectations of a 4.2% increase. Chinese industrial production expanded by 7.7% year-on-year in March, better than the 5.8% forecast. Fixed asset investment, in turn, rose in the first quarter to 4.2%, bettering expectations of 4.1% growth, despite a continued slowdown in real estate investment, which fell by 9.9%.<\/p>\n
<\/p>","protected":false},"excerpt":{"rendered":"
Gross domestic product in China, the world’s second-largest economy, grew by about 5.4% year-on-year in the first quarter of this year, according to data released Wednesday morning, April 16, by the National Bureau of Statistics. The GDP reached 31,875.8 billion yuan, an increase of 1.2% from the fourth quarter of 2024, exceeding market expectations of […]<\/p>\n","protected":false},"author":1,"featured_media":7325,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-7483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-currency-markets"],"acf":[],"yoast_head":"\n