More than a year-long sweeping streak of global monetary policy tightening to rein in red-hot inflation has dented world economic growth, leaving many countries including China reliant on domestic demand to spur momentum and raising the challenge for policymakers looking for post-COVID stability.
Gross domestic product grew 4.5% year-on-year in the first three months of the year, data from the National Bureau of Statistics (NBS) showed on Tuesday, faster than the 2.9% in the previous quarter. It beat analyst forecasts for a 4.0% expansion and marked the strongest growth in a year.
Investors have been closely watching first quarter data to assess the strength of the recovery after Beijing abruptly lifted COVID curbs in December and eased a three-year crackdown on tech firms and property. GDP growth last year slumped…
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