China’s first quarter GDP grows 6.8%, slightly more than expected

China records a 6.8% economic growth in the first quarter of 2018 from a year earlier, a percentage that has slightly exceeded expectations and unchanged from the previous quarter.

Reuters spoke to analysts who shared that they expected gross domestic product (GDP) to rise to 6.7% in the January-March quarter, slowing only slightly from 6.8% growth in the previous two quarters.

China’s sustained growth shows that the economy has remained resilient even as Beijing kicked its war on pollution into a high gear during the winter months by cutting production for many steel smelters, mills and factories.

“The national economy maintained the momentum of steady and sound development. The economic performance continued to improve, and the economy was off to a good start.” said Xing Zhihong, a spokesman for the National Statistics Bureau.

The National Bureau of Statistics said on a quarterly basis, GDP in the first quarter grew 1.4 percent, compared with revised growth of 1.6 percent in October-December.

Source: Reuters

 

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