China’s economy grew at a steady 6.4 percent pace in the first quarter from a year earlier, defying expectations for a further slowdown, as industrial production jumped sharply and consumer demand showed signs of improvement.
The upbeat readings, which also showed faster growth in retail sales and investment, are likely to add to optimism that China may be starting to stabilize, relieving some investor anxiety over the sputtering global economy.
But analysts say it is too early to call a sustainable turnaround, and further policy support is likely still needed to keep the momentum going. Many had expected a recovery only in the second half of 2019.
