China reported a gross domestic product (GDP) growth of 3% for 2022 to beat market expectations according to data from the National Bureau of Statistics (NBS) showed last week.
The annual GDP growth rates surpassed the 2.7% estimate in a Bloomberg survey by economists and the 2.8% forecast in a Reuters poll. The economy also registered a 2.9% gain in the fourth quarter well above the consensus forecast of 1.6%, as December retail sales came in far better than projected.
Techloy's chart below shows the country's gross domestic product (GDP) – converted from yuan to USD based on Google's current exchange rate - and the annual growth rates since 2019.
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