China s growth beats estimates as economy powers out of COVID
Bloomberg News, Bloomberg News VIDEO SIGN OUT
Chinaâs economy roared back to pre-pandemic growth rates in the fourth quarter as its industrial engines fired up to meet surging demand for exports, pushing the full-year expansion beyond estimates and propelling its global advance.
Gross domestic product climbed 6.5 per cent in the final quarter from a year earlier, pushing growth to 2.3 per cent for the full year. That leaves the worldâs second-largest economy driving global growth and potentially passing U.S. GDP sooner than previously expected.
Rebound in China
The V-shaped recovery from the biggest slump on record was engineered by getting COVID-19 under control and deploying fiscal and monetary stimulus to boost investment. Growth accelerated as the nationâs factories revved up to meet demand for medical equipment and work-from-home devices in an export bonanza that saw it ship 224 billion ma
China s Economy Grew 2.3% In 2020, Rebounding To Pre-Pandemic Territory China s Economy Grew 2.3% In 2020, Rebounding To Pre-Pandemic Territory Gross domestic product climbed 6.5 per cent in the final quarter from a year earlier, fueled by stronger-than-expected industrial output, the statistics bureau said Monday
Updated: January 18, 2021 10:02 am IST
China s gains mean it increased its share of the world economy to 14.5 per cent
China s economy recovered to pre-pandemic growth rates in the fourth quarter, propelling it to a stronger than expected full-year expansion of 2.3 per cent and making it the only major one to avoid contraction.
Gross domestic product climbed 6.5 per cent in the final quarter from a year earlier, fueled by stronger-than-expected industrial output, the statistics bureau said Monday. Economists surveyed by Bloomberg had predicted 6.2 per cent growth for the quarter and 2.1 per cent for the full year.
(Bloomberg) Resurgent coronavirus outbreaks will vex central bankers on five continents this week as they weigh the threat of more damage to growth against the hope that mass vaccinations will reopen economies.