China's gross domestic product likely perked up in the first quarter of the year, a Reuters poll showed on Friday, as the end of strict COVID-19 curbs helped lift the world's second-largest economy out of a crippling pandemic slump.
GDP growth was seen speeding up to 4.0% in the first quarter from a year earlier, from 2.9% in the previous three months, according to the median forecast of 70 economists polled by Reuters. That would be the fastest growth since the first quarter of last year.
The government has set a modest target for economic growth of around 5% for this year, after badly missing the 2022 goal.The government is due to release first quarter GDP data, along with March activity data, at 0200 GMT on April 18.China's exports unexpectedly surged in March, data showed this week, but analysts cautioned the improvement partly reflects suppliers catching up with unfulfilled orders after last year's COVID-19 disruptions.
On a quarterly basis, the economy is forecast to grow 2.2% in January-March, compared with no change in October-December, the poll showed. Analysts polled by Reuters expect the central bank to keep the benchmark lending rate - the one-year loan prime rate and banks' reserve requirement ratio - until the end of the 2023.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Video shows bridge in China swept away in 2021, not 'during 2023 flood in Malaysia'A video has been viewed thousands of times after it circulated alongside a false claim that it shows a bridge being swept away during a flood in Malaysia’s state of Johor in March 2023. The video actually shows a collapsed bridge in China's Fujian province during a flood in June 2021.
Read more »
PBOC’s Yi: Expect China’s GDP this year to grow around 5%People's Bank of China (PBOC) Yi Gang said in a statement on Friday, he is expecting the Gross Domestic Product (GDP) in China this year to grow aroun
Read more »
Standout Looks From the WNBA Draft 2023 Red Carpet Include Fringe Bralettes and Power SuitsAthletes from all over the country brought their A-game style to the 2023 Women’s National Basketball Association Draft.
Read more »
Pa. Election Day 2023: A complete guide to the May 16 primaryDemocrats and Republicans will consider a number of races during Pennsylvania’s primary election on May 16, while other voters may have contests to consider depending on where they live.
Read more »
AUTOCAR GREAT WOMEN: RISING STARS 2023Autocar Great Women: Rising Stars 2023, an initiative run by Autocar in association with the Society of Motor Manufacturers and Traders, celebrates the up-and-coming stars of the British automotive industry.The industry’s top rising stars will be announced at a ceremony on 28th June. Autocar’s Rising Stars award celebrates the achievements of women across the motoring industry who are on the fast track in their careers and with the potential to rise to the very top of the industry. It’s not age-limited - instead we put great value on your future potential in your role.
Read more »