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China's Q1 GDP grows at record 18.3% y/y as recovery speeds up
China’s economy grew at a record pace in the first quarter, official data showed on Friday, expanding 18.3% from a year earlier as the recovery from the coronavirus slump accelerated. The growth in gross domestic product (GDP) was slower than the 19% forecast by economists in a Reuters poll, and followed 6.5% growth in the fourth quarter last year. It was the strongest growth since at least 1992 when official quarterly records started. China’s economy has largely recovered from last year’s COVID-19 induced paralysis, fuelled by global vaccination progress, resilient exports and government stimulus. The ... (full story)
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$AUDUSD relatively flat following slew of key Chinese data
— DailyFX Team Live (@DailyFXTeam) April 16, 2021
Q1 GDP slightly missed expectations
Industrial production slightly missed estimates
Retail sales surprised higherhttps://t.co/KX9hBLuCis pic.twitter.com/XoNkqNT4cz
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Chinese Economy Grows More Than 18% in First Quarter
China’s economy surged 18.3% in the first quarter from a year earlier, a record rate of growth that was flattered by the coronavirus-induced trough at the start of 2020, but that also reflects continued momentum in the world’s second-largest economy. The rate of gross domestic product growth in the first three months of 2021 was sharply higher than the 6.5% year-over-year growth recorded in the final quarter of 2020, though it fell short of the 19.2% growth expected by economists polled by The Wall Street Journal. Analysts had anticipated GDP growth in the first three months of the year to jump sharply when ... (full story)