Chinese economy grows slightly above forecasts in Q1

Reuters

Posted at Apr 17 2018 10:36 AM

Workers carry their tools and belongings as they climb down the Jiankou section of the Great Wall, located in Huairou District, north of Beijing, China, June 7, 2017. Damir Sagolj, Reuters/FILE PHOTO

BEIJING - China's economy grew 6.8 percent in the first quarter of 2018 from a year earlier, official data showed on Tuesday, slightly above expectations and unchanged from the previous quarter.

The data points to continued resilience in the world's second-largest economy even as its export outlook is being clouded by escalating tensions with the United States, its largest trading partner.

Analysts polled by Reuters had expected gross domestic product to expand 6.7 percent in the January to March quarter, slowing only marginally from 6.8 percent growth in the previous 2 quarters.

Growth remained comfortably above the government's target of around 6.5 percent for the full year, which could give policymakers more confidence to step up efforts to reduce risks in the financial system and clean up the environment.

On a quarterly basis, GDP in the first quarter grew 1.4 percent, compared with revised growth of 1.6 percent in October-December, the National Bureau of Statistics said.

Analysts had expected growth of 1.5 percent on a quarterly basis.