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China’s economy is on track for ‘strong’ March performance, survey says

2024-03-28 09:27:55       source:CNBC

March 27, 2024

BEIJING — China’s economy is ending the first quarter on a “strong” note, according to a business survey published by the China Beige Book on Thursday.

“The economy clearly improved in March, thanks to better industrial activity and stronger retail spending,” said Shehzad H. Qazi, chief operating officer at the China Beige Book, a U.S.-based research firm.

China’s official data on retail sales, industrial production and fixed asset investment for January and February beat expectations across the board. Figures for the first two months of the year are typically reported together to account for the week-long Lunar New Year holiday, which follows the agrarian calendar.

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