BEIJING (AP) — China’s economic growth edged up to a still-weak 4.8% over a year earlier in the first three months of 2022 as spreading coronavirus outbreaks prompted shutdowns of major industrial cities.
Growth crept up from the previous quarter’s 4%, when the economy was slammed by tighter government controls on use of debt by China’s vast real estate industry, official data showed Monday. Compared with the previous quarter, as other major economies are, growth slipped to 1.3% in January-March from 1.4% in the previous quarter.
First quarter growth was below the ruling Communist Party's official target of 5.5% for the year, which forecasters have said will be hard to hit without heavy government spending on stimulus.
Retail spending, factory output and investment in factories, real estate and other fixed assets rose.
“The national economic recovery was sustained and the operation of the economy was generally stable,” said a government statement.
Before you consider Citigroup, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Citigroup wasn't on the list.
While Citigroup currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Unlock the timeless value of gold with our exclusive 2025 Gold Forecasting Report. Explore why gold remains the ultimate investment for safeguarding wealth against inflation, economic shifts, and global uncertainties. Whether you're planning for future generations or seeking a reliable asset in turbulent times, this report is your essential guide to making informed decisions.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
