China's GDP Q1 2023
According to the latest data released by the National Bureau of Statistics, China's GDP grew 4.5 per cent year on year to RMB 28.5 trillion in the first quarter of 2023, up 1.6 percentage points compared to the previous quarter. On a quarterly basis, China's GDP grew by 2.2 per cent in the January-March period.
China's retail sales of consumer goods, a major indicator of the country's consumption strength, increased by 5.8 per cent in the first quarter of 2023, while in March alone grew by 10.6 per cent, from the 3.5 per cent growth registered in the first two months.
The country's fixed asset investment, a gauge of expenditure on items including infrastructure, property, machinery, and equipment rose 5.1 per cent in Q1 2023.
China's value-added industrial output, a gauge of activity in the manufacturing, mining and utilities sectors, grew by 3.9 percent in March up 1.5 percentage points from the previous months, and grew by 3 percent in the first quarter of 2023.
The urban unemployment rate declined 0.3 percentage points to 5.3 per cent in March from 5.6 per cent registered in February.