Economics
China Roars Back to Lift Global Outlook as U.S. Consumer Weakens
- Economy on pace to power one-third of global growth in 2017
- Government makes progress in restraining runaway credit growth
China's Economy Accelerated for a Second Straight Quarter
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China’s economy stormed back in the first quarter, clocking its first back-to-back acceleration in seven years and bolstering the global growth outlook just as signs of subdued consumer spending have surfaced in the U.S.
The Chinese economy accelerated to a better-than-expected 6.9 percent, powered by strength in housing, infrastructure investment, exports and retail sales. And it looks to have done so without worsening credit risks, a welcome development for economists worried about the nation’s towering debt burden.