China's economy grew faster than expected in the first three months of the year, as the country emerged from its tough Covid restrictions.The key measure of economic activity was driven up by a boost in household spending and rising factory activity.
At the same time, output from the country's factories rose by 3.9%, although that slightly missed forecasts.China Civil Aviation Administration data showed that more than 45 million air passenger trips were taken last month, an almost threefold increase on the same time last year.announcing a major easing of restrictionsInvestors had been eagerly waiting for the figures to get clues on the strength of China's recovery after the government lifted coronavirus measures.
"What's more likely to happen in the coming months is that people might get over the initial high after the reopening," Dan Wang, chief economist at Hang Seng Bank said.
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