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China says its first-quarter GDP grew by 6.4 percent, topping expected 6.3 percent


Added 04-16-19 10:02:02pm EST - “Investors have been watching the health of the Chinese economy amid Beijing's ongoing trade dispute with Washington.” - Cnbc.com

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Posted By TheNewsCommenter: From Cnbc.com: “China says its first-quarter GDP grew by 6.4 percent, topping expected 6.3 percent”. Below is an excerpt from the article.

Analysts polled by Reuters had expected the country's gross domestic product to grow by 6.3 percent year-on-year in the first three months of 2019. China grew by 6.4 percent year-on-year in the fourth quarter of last year, and 6.8 percent in the first quarter of 2018.

GDP is among a slew of economic data that China is scheduled to release on Wednesday morning. Others include Chinese industrial production, retail sales and fixed asset investment for March.

Investors have been watching the health of the Chinese economy — the world's second largest — amid Beijing's ongoing trade dispute with Washington. Official GDP figures are widely followed, but some experts have long expressed skepticism about the veracity of China's reports.

Nevertheless, a number of recent data — compiled privately and from official sources — have pointed to an improvement in the Chinese economy, thanks partly to Beijing's stimulus measures. In March, China reported much higher than expected exports, and an unexpected expansion in the country's manufacturing activity.

That could mean the Chinese economy may have hit a bottom and is now recovering, said Alexander Treves, an investment specialist at J.P. Morgan Asset Management.

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