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China's gross domestic product growth eases to 4.6% in first quarter, keeping pressure on for more stimulus

BEIJING (Reuters) - China's economy grew 4.6 percent in the first quarter from a year earlier (the slowest growth in a year), a Reuters poll showed on Thursday.
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The first-quarter growth forecast compares with 5.2 percent in the previous quarter and is the lowest since the January-March quarter of 2023, underscoring pressures in the economy despite stronger-than-expected January-February data on factory output and retail sales, as well as exports. he does.

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Analysts had expected growth to pick up to 5.0 percent in the second quarter, but policymakers have stopped trying to boost confidence and demand.
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China's economy has struggled to make a strong and sustained post-Covid rebound with a prolonged #real estate slump, rising local government debt and weak private sector spending.

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The government has unveiled fiscal and monetary policy measures in an effort to meet what analysts have described as an ambitious GDP growth target in 2024, noting that last year's 5.2 percent growth rate is likely to slow compared to 2022. It was affected by covid, it was admirable.

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On a quarterly basis, the survey showed economic growth of 1.4 percent in the first quarter, up from 1.0 percent in October-December.
The government is due to release first-quarter GDP data along with March activity data at 02:00 GMT on April 16.

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Gross domestic product in the world's second-largest economy is expected to grow 4.6 percent year-on-year in 2024, below the official target, according to an average forecast of 86 economists polled by Reuters. About 5.0%.
Analysts predict a slower growth rate of 4.4% for 2025.

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