China s growth surges to record 18.3% in the first quarter
16 Apr, 2021 04:16 AM
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Shoppers visit a retail district in Beijing last week. Photo / AP
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By: Joe McDonald
China s economic growth surged to 18.3 per cent over a year earlier in the first quarter of 2021 but an explosive rebound in factory and consumer activity following the coronavirus pandemic is levelling off.
The figures reported Friday were magnified by comparison with early 2020, when the world s second-largest economy suffered its deepest contraction in decades. Growth compared with the final quarter of 2020, when a recovery was under way, was only 0.6 per cent, among the past decade s lowest.
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