China’s economy bounces back with Covid restrictions dropped and residents spending big at the shops
China’s economy is bouncing back.
The country’s economy grew faster than expected in the first three months of the year, as residents emerged from tough Covid restrictions.
When compared to the same period 12 months ago, gross domestic product was up 4.5 per cent.
This has largely been driven by a boost in household spending and rising factory activity.
Beijing previously promised it would supercharge the world’s second largest economy when it lifted coronavirus measures back in December.
Retail sales are up.
They jumped by 10.6 per cent when compared to a year earlier.
There is also hope for the country’s airline industry.
Data shows more than 45 million air passenger trips were taken last month. #trending #featured
