E-Tools

China's economy grows 4.8% in Jan.-Mar. but faces pandemic risks NHK

China's economy grew at a faster pace in January through March compared to the final quarter of last year. But analysts say the economy faces risks from the ongoing spread of coronavirus.

The National Bureau of Statistics said on Monday that GDP grew 4.8 percent in the first quarter from the same period a year ago. That was faster than the 4.0 percent rate in October to December.

One area of growth was infrastructure investment, thanks to stimulus measures by the government.
Consumer spending also showed signs of picking up through February.

But then in March, the rapidly spreading coronavirus prompted officials to clamp down on people's movements in multiple cities, leading to factories shutting down and a fall in production.

Restaurant sales plunged as spending by individuals collapsed.

Corporations also face headwinds from rising global energy and raw-materials prices as a result of the conflict in Ukraine.
Summary
China's Q1 GDP grew at 4.8%, accelerating from the previous quarter, but analysts warn of risks due to coronavirus spread. Infrastructure investment and consumer spending were strong points earlier, but the virus outbreak led to factory shutdowns, production fall, and restaurant sales drop in
Statistics

148

Words

1

Read Count
Details

ID: 625ceb8a-778c-4bda-a2d8-7d83c0a80b98

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20220418_19/

Date: April 18, 2022

Created: 2022/04/18 13:39

Updated: 2025/12/09 16:54

Last Read: 2022/04/18 13:39