Strong China Q1 growth supported by construction, manufacturing

TheStar Thu, Apr 19, 2018 11:02am - 6 years View Original


BEIJING: China’s better-than-expected economic expansion in the first quarter was backed by a pick-up in construction and industry, while a slowdown in the services and agriculture sectors dragged on growth, official data showed.

The construction and manufacturing sector grew 6.3% from a year earlier, accelerating from a 5.7% pace in the fourth quarter, according to more detailed data released by the National Bureau of Statistics.

China’s economy expanded 6.8% in January-March, beating expectations for a 6.7% gain, riding on the coat-tails of robust property investment and resilient consumer demand.

Manufacturing also rebounded early this year after authorities lifted winter pollution restrictions and as steel mills cranked up output as construction swung back into high gear.

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