Beijing : China is expected to announce an economic rebound on Tuesday , when Beijing releases its first quarterly GDP figures since abolishing growth – sapping Covid rest reaction late last year .
The Asian giant’s virus containment policy – nuns tinting regime of strict quarantines , mass testing and travel curbs – strongly cost rained normal economic activity before it was abruptly ditched in December . The dis closures on Tuesday will give the first snapshot since 2019 of a Chinese economy unfence numbered by public health curbs , with analysts polled by AFP expecting an average of 3.8 % year – on – year growth in the period from January through March . But the world’s number two economy Rema ins beset by a series of other crises , from a debt – laden pro party sector to flagging consumer confidence , global in flatiron and the threat of recession elsewhere . ” The recovery is real , but still in its early stage , ” said Larry Hu , chief China at the in vestment bank Macquarie .
Any rebound ” will be gradual , largely due to the weak confidence ” of consumers , which in turn makes companies ” reluctant ” to hi re more staff , he said . China’s economy grew by 3 % in the whole of last year , one of its weakest performances in decades .
It posted a 4.8 % expansion in the first quarter of 2022 , though growth pulled back to just 2.9 % in the final three months of the year . An AFP analysts ‘ poll predicted that the Chinese economy would grow by an average of 5.3 % this year .