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China says its economy grew 18.3% in the first quarter ( Expectations are slightly missing )  

GDP of China soared 18.3% in the first three months of the year from a year ago, China’s National Bureau of Statistics said Friday. That’s slightly below expectations of a 19% increase, according to analysts polled by Reuters.The surge in growth comes off a contraction in the first quarter of last year, when the economy shrank by 6.8% during the height of the domestic outbreak of Covid-19. The statistics bureau cautioned in an English-language statement that the spread of Covid-19 globally and the “international landscape is complicated with high uncertainties and instabilities.” Liu (spokesperson of the National Bureau) said the bureau recently found in a survey of more than 90,000 industrial businesses that a historically high ratio of 44% said hiring was their biggest problem.

Source: CNBC


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