Posted 4/16/2024, 10:46:00 AM
China's Economy Grows 5.3% in First Quarter, Beating Expectations Despite Slowing Retail and Property Sectors
- China's economy grew 5.3% in Q1 2022, beating expectations of 4.8% growth
- Growth was boosted by infrastructure investment and consumer demand after Lunar New Year
- But property sector remains weak, with investment down 9.5%
- Industrial production and retail sales showed signs of slowing in March
- Asian shares fell despite the strong China growth figures, as stocks retreated globally