Economics
China’s Growth Beats Estimates as Economy Powers Out of Covid
- GDP rose 6.5% in fourth quarter, faster than expected
- China could surpass U.S. as largest economy by 2028: Nomura
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China’s economy roared back to pre-pandemic growth rates in the fourth quarter as its industrial engines fired up to meet surging demand for exports, pushing the full-year expansion beyond estimates and propelling its global advance.
Gross domestic product climbed 6.5% in the final quarter from a year earlier, pushing growth to 2.3% for the full year. That leaves the world’s second-largest economy driving global growth and potentially passing U.S. GDP sooner than previously expected.