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Financial News: China GDP Jumps 18.3% On Year In Q1

China GDP Jumps 18.3% On Year In Q1

04/15/2021 - 22:09:00 (RTTNews)

(RTTNews) - China's gross domestic product expanded 18.3 percent on year in the first quarter of 2021, the National Bureau of Statistics said on Friday.

That was shy of estimates for a jump of 19.0 percent but was up sharply from the 6.5 percent growth in the fourth quarter of 2020.

The bureau also said that industrial production was up 14.1 percent on year in March - missing forecasts for a gain of 17.2 percent and slowing from the 35.1 percent growth in February.

Retail sales skyrocketed 34.2 percent on year in March, exceeding expectations for a gain of 28.0 percent and up from 33.8 percent in the previous month.

Fixed asset investment jumped an annual 25.8 percent, beating forecasts for 25.0 percent and down from 35.0 percent a month earlier.

The jobless rate in China fell to 5.3 percent in March from 5.5 percent in February.

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