The government has set a modest target for economic growth of around 5% for this year, after badly missing the 2022 goal. (Reporting by Kevin Yao and Joe Cash Editing by Shri Navaratnam)
BEIJING, April 18 (Reuters) - China's economy grew at a
faster than expected clip in the first quarter, official data
showed on Tuesday, expanding 4.5% year-on-year, as policymakers
move to bolster growth following the end of strict COVID-19
curbs in December.
Analysts polled by Reuters had expected gross domestic
product (GDP) to expand 4.0% from a year earlier, quickening
from 2.9% in the fourth quarter.
On a quarter-by-quarter basis, GDP grew 2.2% in
January-March, data released by the National Bureau of
Statistics showed, compared with expectations for a 2.2%
increase and a revised 0.6% rise in the previous quarter.
Recent data suggest the economy is rebounding after
disruptions caused by the sudden lifting of COVID-19 curbs in
December, led by consumption, services and infrastructure, but
easing inflation and surging bank savings are raising questions
over the strength of domestic demand.
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