Economy
China starts with 5.4 percent growth into the year
The second largest economy in the world started with an expected performance into the year. But the trade dispute with US President Donald Trump could soon become noticeable in the numbers.
China’s economy increased somewhat more than expected in the first quarter of this year. As the statistics office in Beijing announced, the provisional growth was 5.4 percent compared to the same period last year. Sheng Laiyun, Vice Commissioner of the National Statistics Authority of China, spoke of a good start and a stronger demand.
Analysts had expected around 5.2 percent growth in advance. China started the financial year. Beijing has again set an ambitious growth destination of around five percent for 2025.
However, the trade conflict with the United States, which escalated in April, is likely to affect the second largest economy in the world and can be felt more clearly in the coming quarter. Observers expect economic growth to weaken from the second quarter.
So far, China’s government has been trying to boost consumption again with an exchange program age against new devices or cars. The People’s Republic has long been fighting with weak demand, pressure from deflation and a waving real estate crisis that brakes the economic engine.
dpa
Source: Stern
