BEIJING (Reuters) – China’s economic system grew 5.4% within the fourth quarter from a yr earlier, official knowledge confirmed on Friday, considerably beating analysts’ expectations and enabling the federal government to fulfill its annual development goal.
Analysts polled by Reuters had forecast fourth-quarter gross home product (GDP) would broaden 5.0% from a yr earlier, quickening from the third-quarter’s 4.6% tempo as a flurry of assist measures started to kick in. The quarter’s development marked the quickest for the reason that second quarter of 2023.
For the full-year 2024, the world’s second-largest economic system grew 5.0%, knowledge from the Nationwide Bureau of Statistics knowledge confirmed, assembly the federal government’s annual development goal of round 5%. Analysts had forecast 4.9% development.
On a quarterly foundation, GDP grew 1.6% in October-December, in contrast with a forecast 1.6% enhance and a revised 1.3% acquire within the earlier quarter.
Chinese language policymakers have unveiled a blitz of stimulus measures since September final yr to revive sputtering development, and have pledged to do extra this yr as U.S. President-elect Donald Trump, who has proposed hefty tariffs on Chinese language items, is about to return to the White Home subsequent week.
