Tags: china economy

China's Economy Grew 3% Last Year, Not Even Half 2021's Rate

China's Economy Grew 3% Last Year, Not Even Half 2021's Rate

China Shipping Lines Cargo Ship Xin Mei Zhou loading at the Port of Oakland, the fifth busiest container port in the United States (Dreamstime)

Monday, 16 January 2023 10:00 PM EST

China’s economic growth fell to 3% last year under pressure from antivirus controls and a real estate slump but is gradually reviving after restrictions that kept millions of people at home were lifted.

Growth of the world's second largest economy slid to 2.9% over a year earlier in December from the previous month's 3.9%, government data showed Tuesday.

Forecasters say activity is reviving but wary consumers are returning only gradually to shopping malls and restaurants amid a surge in COVID-19 infections. The government says the peak of that wave appears to have passed.

Last year's expansion was less than half of 2021’s 8.1% growth.

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GlobalTalk
- China's economic growth fell to 3% last year under pressure from antivirus controls and a real estate slump but is gradually reviving after restrictions that kept millions of people at home were lifted. Growth of the world's second largest economy slid to 2.9% over a year...
china economy
104
2023-00-16
Monday, 16 January 2023 10:00 PM
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