China's GDP growth for the first quarter of 2024 exceeded expectations, registering a 5.3% increase year on year, according to Morgan Stanley Chief China Economist Robin Xing and Chan Ka Sing. This growth was primarily driven by robust manufacturing and strong export volumes, alongside capital expenditure in the manufacturing sector. Notable contributions also came from sectors like catering, which are beginning to show signs of recovery. Despite these positive indicators, the real estate sector continues to struggle, and challenges such as near-zero inflation and weak lending persist, complicating the efforts of Beijing's policymakers to find effective stimulus measures. Economists suggest that while the initial growth is promising, additional stimulus may be necessary as it becomes increasingly difficult for the People's Bank of China (PBOC) to manage monetary policy effectively.
China’s GDP print for Q1 strains belief. @shuli_ren digs into what’s behind headline number. https://t.co/m6I38I2jhm
SENIOR IMF OFFICIAL: IN COUNTRIES WHERE INFLATION IS LOW, NOTABLY CHINA, THERE IS ROOM TO SUPPORT DEMAND THROUGH MONETARY POLICY.
Observers voice confidence in #China's economic outlook amid GDP growth https://t.co/0Ke7H1iPwn
China's strong first-quarter growth is puzzling the Chinese, who witness a stagnant economy daily. @shuli_ren says two factors reconcile the difference (via @opinion) https://t.co/rpWwQy4eQU
China’s central bank signals caution over credit boost as demand weakens https://t.co/K5deRXLgoo
⚠️ CHINA'S CENTRAL BANK SAYS HAS POLICY ROOM BUT CREDIT DEMAND SLOWS Full Story → https://t.co/Wh4gDZRGA9 There is still room for China's central bank to take steps to support the economy, but efforts are needed to prevent cash from sloshing around the banking system as real… https://t.co/jdWV9RHQaQ
“China saw a 12.6% increase, accelerating from 2.5% in the previous month, as businesses ramped up operations following LNY holidays, helping to power 5.3% economic growth in Q1. But shipments to the US and Europe rose at a slower pace of 8.5% and 3%” https://t.co/ZhElWxQ5ZB
China's strong first-quarter growth is puzzling the Chinese, who witness a stagnant economy daily. @shuli_ren says two factors reconcile the difference https://t.co/M9FKcPUILr via @opinion
China's strong first-quarter growth is puzzling the Chinese, who witness a stagnant economy daily. @shuli_ren says two factors reconcile the difference https://t.co/yAmo002p36
“Economists took two lessons from China’s economic numbers this week. First, while growth started the year at a healthy pace, more stimulus will likely be needed. And second, it’s getting harder for the PBOC to deliver it via lower interest rates.” https://t.co/o7niVwQPle
#China's #GDP grew by 5.3% in 1st quarter of 2024 amid continued crisis in property sector https://t.co/cF01aTRRbu
China’s economy picked up pace in the first quarter as Beijing’s plan to boost growth by pouring money into factories began to show results https://t.co/5cur2rRkxg https://t.co/5cur2rRkxg
China's less-than-meets-the-eye GDP report https://t.co/Isx819YdvN #axiosmarkets
From @Breakingviews: China’s economy grew 5.3% in the first quarter year on year but Beijing's search for a suitable stimulus still remains complicated, says Chan Ka Sing https://t.co/cIRTyoWbPu https://t.co/kdfQCeWXB9
China showed a better-than-expected economic performance in the first quarter of 2024, mainly driven by strong export volume and manufacturing sector capital expenditure, said Morgan Stanley Chief China Economist Robin Xing https://t.co/ZHUJWc0tju https://t.co/jBZnF4Bd90
WATCH: China GDP growth beat expectations Q1 thanks to manufacturing and green shoots in sectors like catering. Yet property woes endure. Near-zero inflation and weak lending also complicate the search for suitable stimulus, Chan Ka Sing explains. https://t.co/LpAGy5y4cE https://t.co/dWAYtkWchu
China's economic performance for the first quarter of this year was unveiled on Tuesday, showing a strong start with robust growth and improved quality and efficiency. Read more: https://t.co/OcNHzfzlap https://t.co/6EPkWXrj0H
From @Breakingviews: China's GDP growth beat expectations thanks to robust manufacturing and sectors like catering. Yet real estate’s woes endure. Near-zero inflation and weak lending also complicate Beijing’s search for stimulus, Chan Ka Sing explains https://t.co/cIRTyoVDZW https://t.co/UeG7vzqhXd