China’s Q1 GDP grows at record 18.3% y/y as recovery speeds up

China’s economy grew at a record pace in the first quarter, official data showed on Friday, expanding 18.3% from a year earlier as the recovery from the coronavirus slump accelerated. The growth in gross domestic product (GDP) was slower than the 19% forecast by economists in a Reuters poll, and followed 6.5% growth in the fourth quarter last year. It was the strongest growth since at least 1992 when official quarterly records started. China’s economy has largely recovered from last year’s COVID-19 induced paralysis, fuelled by global vaccination progress, resilient exports and government stimulus. The … (full story)

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