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China GDP Expands 4.5% On Year In Q1
(RTTNews) - China's gross domestic product was up 4.5 percent on year in the first quarter of 2023, the National Bureau of Statistics said on Tuesday/
That beat expectations for an increase of 4.0 percent and was up from 2.9 percent in the three months prior.
On a seasonally adjusted quarterly basis, GDP gained 2.2 percent - matching forecasts following the flat reading in the previous quarter.
The bureau also said that industrial production was up 3.9 percent on year in March, missing expectations for 4.0 percent but still up from 2.4 percent in February.
Retail sales jumped an annual 10.6 percent, beating forecasts for 7.4 percent and up from 3.5 percent in the previous month.
Fixed asset investment rose 5.1 percent on year, shy of expectations for 5.7 percent and down from 5.5 percent a month earlier.
The jobless rate came in at 5.3 percent, beneath forecasts for 5.5 percent and down from 5.6 percent in February.
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