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China reports 3% GDP growth for 2022 as December retail sales, industrial production beat estimates
Last edited Tue Jan 17, 2023, 06:39 AM - Edit history (1)
CHINA ECONOMY
China reports 3% GDP growth for 2022 as December retail sales, industrial production beat estimates
PUBLISHED MON, JAN 16 2023 9:01 PM EST UPDATED MON, JAN 16 2023 11:02 PM EST
Evelyn Cheng
KEY POINTS
• China reported 3% GDP growth for 2022, better than the 2.8% forecast in a Reuters poll.
• Retail sales in December declined by 1.8% from a year ago, less than the expected 8.6% plunge predicted by a Reuters’ poll.
• Industrial production rose by 3.6% in 2022. The figure rose by 1.3% in December, well above the 0.2% predicted by the Reuters’ poll.
BEIJING — China reported GDP growth for 2022 that beat expectations as December retail sales came in far better than projected.
GDP grew by 3% in 2022, the National Bureau of Statistics said Tuesday. That was better than the 2.8% forecast in a Reuters’ poll. The GDP growth number did miss the official target of around 5.5% set in March. In 2021, China’s growth had rebounded by 8.4% from just 2.2% growth in 2020.
Fourth-quarter GDP rose by 2.9%, beating expectations from the Reuters’ poll of 1.8% growth.
Kang Yi, director of the National Bureau of Statistics, cast China’s 3% growth as “relatively fast” in light of unexpected situations and in contrast to Germany, the U.S. and Japan.
{snip}
China reports 3% GDP growth for 2022 as December retail sales, industrial production beat estimates
PUBLISHED MON, JAN 16 2023 9:01 PM EST UPDATED MON, JAN 16 2023 11:02 PM EST
Evelyn Cheng
KEY POINTS
• China reported 3% GDP growth for 2022, better than the 2.8% forecast in a Reuters poll.
• Retail sales in December declined by 1.8% from a year ago, less than the expected 8.6% plunge predicted by a Reuters’ poll.
• Industrial production rose by 3.6% in 2022. The figure rose by 1.3% in December, well above the 0.2% predicted by the Reuters’ poll.
BEIJING — China reported GDP growth for 2022 that beat expectations as December retail sales came in far better than projected.
GDP grew by 3% in 2022, the National Bureau of Statistics said Tuesday. That was better than the 2.8% forecast in a Reuters’ poll. The GDP growth number did miss the official target of around 5.5% set in March. In 2021, China’s growth had rebounded by 8.4% from just 2.2% growth in 2020.
Fourth-quarter GDP rose by 2.9%, beating expectations from the Reuters’ poll of 1.8% growth.
Kang Yi, director of the National Bureau of Statistics, cast China’s 3% growth as “relatively fast” in light of unexpected situations and in contrast to Germany, the U.S. and Japan.
{snip}
China’s economy expanded 3% in 2022, one of its slowest rates in decades, emphasizing the cost of zero-tolerance Covid-19 policies that Beijing abandoned at the end of last year
wsj.com
China’s Economic Growth Fell to Near-Historic Lows as Covid Took a Bite
China’s economy grew at one of its slowest rates in decades last year as repeated lockdowns hammered households and businesses.
China’s Economic Growth Fell to Near-Historic Lows as Covid Took a Bite
China’s economy grew at one of its slowest rates in decades last year as repeated lockdowns hammered households and businesses.
Link to tweet
China’s Economic Growth Fell to Near-Historic Lows as Covid Took a Bite
The outlook for 2023 has been lifted by optimism around the easing of Covid restrictions
By Jason Douglas
https://twitter.com/wsj_douglasj
jason.douglas@wsj.com
Updated Jan. 17, 2023 2:32 am ET
SINGAPORE—China’s economy grew at one of its slowest rates in decades last year as repeated lockdowns hammered households and businesses, emphasizing the high cost of zero-tolerance Covid-19 policies that Beijing abruptly abandoned at the end of 2022.
China’s economy expanded 3% in 2022, the National Bureau of Statistics said Tuesday, a sharp slowdown from the 8.1% pace recorded in 2021. Aside from 2020, when the economy grew only 2.2%, last year marked the worst year for gross domestic product growth in China since 1976, the year that Mao Zedong’s death ended the decade of strife known as the Cultural Revolution, according to World Bank data.
{paywall}
The outlook for 2023 has been lifted by optimism around the easing of Covid restrictions
By Jason Douglas
https://twitter.com/wsj_douglasj
jason.douglas@wsj.com
Updated Jan. 17, 2023 2:32 am ET
SINGAPORE—China’s economy grew at one of its slowest rates in decades last year as repeated lockdowns hammered households and businesses, emphasizing the high cost of zero-tolerance Covid-19 policies that Beijing abruptly abandoned at the end of 2022.
China’s economy expanded 3% in 2022, the National Bureau of Statistics said Tuesday, a sharp slowdown from the 8.1% pace recorded in 2021. Aside from 2020, when the economy grew only 2.2%, last year marked the worst year for gross domestic product growth in China since 1976, the year that Mao Zedong’s death ended the decade of strife known as the Cultural Revolution, according to World Bank data.
{paywall}