Amid concerns over tariffs, China's first-quarter GDP exceeded forecasts by 5.4% as growth momentum continued.

April 16, 2024, Beijing With a gross domestic product (GDP) growth of 5.4% year over year in the first quarter of 2024, China's economy grew more quickly than anticipated, exceeding analyst projections and demonstrating resilience in the face of persistent worries about global trade tensions and weak demand in important markets.

The most recent statistics, which was reported by the National Bureau of Statistics (NBS) on Wednesday, accelerated from the 5.2% expansion seen in the fourth quarter of 2023 and beyond the 5.0% growth forecast by economists in a Reuters poll. The better-than-expected result highlights China's capacity to maintain economic momentum in the face of obstacles like as low consumer confidence, a protracted decline in the real estate market, and growing trade protectionism from Western nations.