China Says Its Economy Grew 2.3% In 2020

 

CNBC: China says its economy grew 2.3% in 2020, but consumer spending fell 

 * China reported GDP rose 2.3% last year as the world struggled to contain the coronavirus pandemic.   * Gross domestic product grew by 6.5% in the fourth quarter from a year ago, official data from National Bureau of Statistics showed. 

 * Economists expected China to have been the only major economy to grow last year, and predicted GDP expanded by just over 2%. 

BEIJING — China reported Monday that its economy grew 2.3% last year as the world struggled to contain the coronavirus pandemic. 

Gross domestic product rose by 6.5% in the fourth quarter from a year ago, official data from the National Bureau of Statistics showed. 

Those numbers beat analysts’ expectations. 

However, Chinese consumers remained reluctant to spend, as retail sales contracted 3.9% for the year. Retail sales for the fourth quarter rose 4.6% from a year ago. 

Read more .... 

WNU Editor: I am always skeptical of these reports. The people I know in China are telling me that the economy is nowhere near where they were before the pandemic. No one is investing in expanding their businesses. They are more focused on keeping what they have. And as for the Chinese consumer. They are focused on this .... Chinese Lockdowns Trigger "Chaos And Panic" At Grocery Stores As Prices Soar 50% (Zero Hedge). 

 More News On China Saying Its Economy Grew 2.3% In 2020 

China growth figures reveal key to recovery rests on virus control -- SCMP 

China's economy grows 2.3% in 2020 as recovery quickens -- CNN 

China's economic growth slowest in 4 decades amid pandemic -- DW 

Despite pandemic, China's economy grew 2.3% in 2020 -- UPI 

China Reports Stronger Than Expected GDP, Is Only Major Economy To Grow In 2020 -- Zero Hedge

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