China’s economy has resumed growth

However, it turned out to be the most modest in the history of publishing quarterly data.

China’s economy recovered from a painful contraction. It grew at an annual rate of 3.2 percent in the previous quarter as anti-epidemic restrictions were lifted, and factories and stores returned to work.

The economic growth reported on Thursday shows significant improvement after a 6.8 percent contraction in the previous quarter, which was the worst for China since at least the mid-1960s.

However, this growth is the weakest since China began publishing quarterly economic data in the early 1990s.

China, where the coronavirus pandemic began in December, was the first to halt its economy, but it was also the first to start a protracted recovery process in March.

Manufacturing and some other industries have almost returned to pre-crisis levels, but consumer spending is volatile due to people’s concerns about possible job losses.

Cinemas and some other businesses are still closed. Travel restrictions also remain in effect.

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Author: Steve Cowan
Graduated From Princeton University. He has been at the Free Press since October 2014. Previously worked as a regional entertainment editor.
Function: Chief-Editor
Steve Cowan

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