Industrial Production and Investment in Manufacturing Buoy Growth in Q1

Key Takeaways

• ​China’s economy surpassed expectations in the first quarter, growing at a rate of 5.3 percent year-on-year, comfortably exceeding the 4.6 percent increase forecasted by a Reuters poll of economists.
• Supply-side factors, including industrial production and investment in the manufacturing sector, continued to drive China’s economy in the first quarter, more so than domestic consumption.
• President Xi Jinping and top party officials will deliberate economic policies at the Third Plenum, scheduled for July.