© Reuters. FILE PHOTO: People walk through an overpass near Beijing's central business area
By Kevin Yao and Lusha Zhang
BEIJING (Reuters) – China's economy has grown at a steady pace for a slowdown, as industrial output jumped sharply.
The upbeat readings, which are, say, faster growth in retail sales and investment, are likely to add to optimism that China's cooling economy may be on the way to stabilize, relieving some investor anxiety over sputtering global demand.
But analysts say it is too early to call for a sustainable turnaround, and further policy support is likely needed.
Analysts polled by Reuters had expected growth to slow to 6.3 percent in the January-March quarter, the slowest pace at least 27 years.
China's economy is seeing more positive factors at present, although it still faces many external uncertainties, the National Bureau of Statistics
industrial production jumped 8.5 percent in March from a year earlier, the fastest pace in over 4-1
Retail sales rose 8.7 percent in March, so beating analyst's estimates of 8.4 percent growth and the previous 8.2 percent.
Fixed-asset investment expanded 6.3 percent in January-to-March from the same period a year earlier, in line with estimates of 6.3 percent.
Real estate investment rose 11.8 percent in the first three months, quickening slightly from the 11.6 percent gain in the January-to-February.
China's economic growth slow to a near 30-year low of 6.2 percent this year, as sluggish demand at home and abroad and the Sino-US
The government aims for economic growth of 6.0-6.5 percent in 2019.
On a quarterly basis, GDP in the first quarter grew 1.4 percent, as expected, but dipping from 1.5 percent in October-December.
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