China Economy Posts Surprise 6.2 Percent Growth as Export Demand Surges
China's National Bureau of Statistics reported that the world's second-largest economy grew by 6.2 percent in the most recent quarter, significantly exceeding analyst forecasts of ...
China’s National Bureau of Statistics reported that the world’s second-largest economy grew by 6.2 percent in the most recent quarter, significantly exceeding analyst forecasts of 4.8 percent.
The stronger-than-expected performance was driven by a surge in export orders, particularly for electric vehicles and renewable energy equipment.
IMF Chief Economist Pierre-Olivier Gourinchas said the Chinese data was broadly positive for the global growth outlook but cautioned that property sector weaknesses remained a significant downside risk.
The yuan strengthened by 1.3 percent against the dollar following the release, and Shanghai’s composite index gained 2.8 percent on the day.
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