Chinese growth slows in Q1
Economic growth in China slowed unexpectedly in the first quarter of the year, sparking concerns about the strength of the country’s recovery.
GDP rose 7.7% from the previous year, according to figures from the country’s National Bureau of Statistics. This compares to 7.9% in the previous quarter, and is below the consensus forecast among some economists of 8%.
The slowdown was led by weaker factory output and consumption.
The data weighed on equity markets, with the Hang Seng index losing 1.35% and the Shanghai market 1.25% lower.
China’s growth rebounded late last year from its deepest slump since 2008, but growth in consumer spending remains subdued.
Analysts have suggested the expansion in credit in the country may help offer a lift to growth during the second quarter.
This article was first published on Investment Week