Spending on consumption, services and infrastructure picked up, but factory output lagged in the face of weak global growth, while slower prices and a surge in bank deposits sparked a Doubts about demand.
Data this week showed China’s exports unexpectedly surged in March, but analysts warned the improvement partly reflected last year’s COVID- Interrupted. “Overall, it was a good set of data for China’s first quarter, which puts them on track to Achieve this year’s growth target of around 5 percent,” said City Index senior market analyst Matt Simpson.
On a quarterly basis, GDP rose 2.2% in January-March, in line with analysts’ expectations and up from a revised 0.6% in 2019 increase in the previous quarter.
Asian stocks pared losses on Tuesday after the data, Hong Kong