Economics
China's Economy Stabilized in First Quarter
- GDP expands 6.7% as retail, factory output, investment pick up
- Credit surge raises question marks over growth sustainability
Breaking Down China's GDP, Retail Sales Data
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China’s economy stabilized last quarter and gathered pace in March as a surge in new credit spurred a property sector rebound while raising fresh questions over the sustainability of the debt-fueled expansion.
Gross domestic product rose 6.7 percent in the first quarter from a year earlier, meeting the median projection of economists surveyed by Bloomberg and in line with the government’s growth target of 6.5 percent to 7 percent for the full year. New credit, industrial output, fixed-asset investment and retail sales picked up in March and beat analysts’ forecasts.