: :inin Kyiv (EET)

China GDP: economy slows to 6.7% in Q1

China`s economy grew at an annual rate of 6.7% in the first quarter of the year, according to official data released on Friday, BBC News reported.
It is the slowest quarterly growth in the Chinese economy in seven years, but in line with expectations and China`s own growth targets, according to BBC News.
In the final quarter of last year, the economy expanded by 6.8%.
Friday`s figures confirm the slowing trend in the world`s second largest economy, the report says.
At this, it is reported that investment in industrial assets and infrastructure registered a surprise jump by 10.7% in the three months to March, when compared to the same period last year.
Consumers also appear to be spending, with retail sales showing a robust 10.5% jump for March, according to the report.
That fits Beijing`s attempts in recent years to transform China from an export-led economy to a consumer-led one, BBC says.



Pin It on Pinterest

Share This

Share this post with your friends!