China Q1 GDP keeps 6.4% growth pace amid fears of slowdown
TOKYO, NNA – China’s economy grew a steady 6.4 percent in the first quarter from a year earlier, coming in slightly firmer than expected and alleviating market fears of a slowdown amid the U.S. trade row.
The National Bureau of Statistics released gross domestic product data for the January-March quarter on Wednesday.
―― The Q1 GDP slowed from the 6.8 percent growth seen a year earlier but was steady from the 6.4 percent expansion in the final quarter of 2018. It was slightly higher than the consensus economist forecast of 6.3 percent.
―― The growth was led by an 8.5 percent jump in March in factory output, which rose 6.5 percent for the first quarter.
―― In Q1, retail sales gained 8.3 percent while capital investment rose 6.3 percent, led by the technology sector. Real estate investment rose 11.8 percent.
―― Goods trade increased 3.7 percent, picking up from the 3.4 percent rise in the first two months of the year.
―― The government pointed to some positive factors but economists do not expect a sharp rebound ahead as the economy has been supported by stimulus measures and the pressure from debt remains.