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China’s GDP growth in the 1st quarter exceeds forecasts

China’s GDP growth in the 1st quarter exceeds forecasts

According to the report released today, China's GDP grew by 6.8% in the first quarter compared with the same period last year. The indicator was higher than the forecasts of analysts who expected that the Chinese economy grew by 6.7% in the period from January to March. The growth of retail sales in the country was also higher than expected in March, compared with March 2017 - 10.1% against the expected 9.7%.

The main reason for China's sustained growth in GDP is the growing global consumer demand, which provides a stable increase in exports. However, analysts expect that in the next quarter it is expected to slow the growth of the Chinese economy, as the indicator of industrial production dynamics in March fell from 7.2% to 6.0%.

The main risk for the Chinese economy remains in the trade conflict between Beijing and Washington. Donald Trump once again accused China in deliberate devaluation of the national currency. A similar accusation was voiced against the Russian Federation.

On April 6, after the introduction of the next package of US sanctions against the Russian Federation, the Russian ruble collapsed from 59 to 62 RUB against the US dollar. At the weekend, information appeared that the United States could already extend sanctions against Russia on Monday, for supporting Syrian President Bashar Assad. However, Donald Trump did not give permission for their implementation, because is not sure of the need for such measures.