China’s Better-Than-Expected GDP Fuels Hopes for Rebound

 

• GDP growth slowed to 3% in 2022, missing government’s target
• Economists expect recovery this year after Covid wave passes

China’s economy grew at the second slowest pace since the 1970s last year as Covid restrictions hammered activity, though better-than-forecast fourth quarter and December data add to optimism it may be primed for a recovery.

Gross domestic product in the world’s second-largest economy grew 3% in 2022, the National Bureau of Statistics said Tuesday, higher than the median estimate of 2.7% in a Bloomberg survey of economists. For the final quarter, the economy expanded 2.9%.

https://www.bloomberg.com/news/articles/2023-01-17/china-economic-growth-slows-less-than-forecast-as-recovery-seen