has set out its economic forecast for the year. the country has set a modest target for economic growth this year of around 5%, as it kicked off the annual session of its national people s congress which is poised to implement the biggest government shake up in a decade. last year, successive strict lockdowns slowed growth in china. official figures show the world s second largest economy grew by 3% last year, which was way below the government target of 5.5% and its slowest for decades. janet mui is head of market analysis at brewin dolphin. talk to me about this slowdown because it is a sort of figure that most developed economies would love to have right now, but a slow down to have right now, but a slow down to 5% marks quite a shift in a china s economic outlook. good morning- china s economic outlook. good morning. thank china s economic outlook. good morning. thank you china s economic outlook. good morning. thank you for - china s economic outlook. good morning.
the country has set a modest target for economic growth this year of around 5%, as it kicked off the annual session of its national people s congress, which is poised to implement the biggest government shake up in a decade. last year, successive strict lockdowns slowed growth in china. official figures show the world s second largest economy grew by 3% last year, which was way below the government target of 5.5% and its slowest for decades. now, compared to many economies, a 5% growth target sounds very positive but as janet mui, head of market analysis at brewin dolphin, explained china is an exception. i think economists were pretty disappointed at this conservative growth forecast, as you mentioned. it is actually a high figure for the developed market, but china is still an emerging market that should be growing strongly. so this is slower than expected, because i think in the previous year the government has missed this gdp growth target and i don t think that they
cameras the way they re talking about digital cameras! at least they ll get old one day, i suppose. it ll happen to all of us? i m afraid that s all we ve got time for. full length version of the programme can be found on iplayer. thanks for watching. we ll see you soon. hello and welcome to newswatch with me, samira ahmed. coming up, the bbc gets it from both sides as it reports on the third anniversary of the uk leaving the european union. and an expert review says bbc news needs to brush up its coverage of economics. i ll be talking to the author of a new report. a lot of numbers have been thrown around this week, including a welter of economic statistics, which is a subject we ll come back to later. this week also saw the 100th day of rishi sunak s premiership on thursday. and the day before that, it was the third anniversary of the uk leaving the eu. love it or loathe it, brexit is three years old. it s still in its infancy, but the economy does appear to have taken a hi
welcome to the programme. it was budget day here in britain today. a big set piece annual event in which the chancellor stairs into the crystal ball, and tries to predict the future and how best to steer the uk economy through it. the obstacles in his way are common to europe and the united states. high inflation, higher interest rates, and since the pandemic, an intractably acute labour shortage. this graph trackjob vacancies across europe since august 2022, historically high after the pandemic, but you will see the uk, the red line at the very top, is struggling more than most. with 1.1 million vacancies. if more people are employed, more people are paying tax. the good news for the chancellor is that the uk will swerve recession this year thanks to growth returning by the summer. but the economy will still contract by 0.2%. and any brighter news, is tempered by slower growth over the long term. mr hunt said the uk would only grow by 1.8% next year and byjust 2.5% in 2025
on tuesday, news bulletins revisited a long running and distressing investigation into the hillsborough stadium disaster. almost 3a years after the hillsborough disaster, police forces in england and wales have issued an apology for the way officers treated the families of the victims, and they have promised a cultural change. having watched the report that followed, viewer heather lunt sent us this response. some viewers contacted us this week about a report on the cost of living, which featured recently on the six and the ten o clock news. it was introduced like this. rising prices are affecting everyone, but it s being felt more in the north than the south of the country. that s according to new research. the centre for cities think tank says the impact of the cost of living crisis is significantly higher in blackburn and burnley, for example, than in cambridge and london. it says the disparity was down to the higher proportion of poorly insulated housing in the north and