BEIJING, April 16 (Reuters) – China’s economy grew 5.0% in the first quarter from a year earlier, official data showed on Thursday, beating analysts’ expectations as policymakers brace for the fallout from the Iran war.
Analysts polled by Reuters had forecast the January-March quarter gross domestic product (GDP) would expand 4.8% from a year earlier, compared with a 3-year low of 4.5% in the fourth quarter.
On a quarterly basis, GDP grew 1.3% in the first quarter, matching forecasts and just ahead of the 1.2% gain in the previous quarter.
Risks to the world’s second-largest economy have surged since the Middle East war erupted on February 28. The conflict has laid bare a critical vulnerability: as the world’s biggest energy importer and a heavily export-driven economy, China is acutely exposed to an oil shock that is already slowing trade, driving up factory costs and clouding the outlook for the year.
(Reporting by Kevin Yao Editing by Shri Navaratnam)
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