China's gross domestic product
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| China GDP & Unemployment |
China's gross domestic product (GDP) in the first quarter of 2022 grew faster than expected despite the impact of lockdowns caused by the coronavirus in parts of the country in March, according to data released by the National Bureau of Statistics Monday, April 18.
Gross domestic product for the first quarter rose by 4.8%, exceeding expectations for an increase of 4.4% from last year.
Investment in fixed assets for the first quarter increased by 9.3% from last year.
Manufacturing investment rose 15.6% in the first quarter of last year, infrastructure saw an 8.5% increase over the same period, and industrial production rose 5% in March, beating expectations of 4.5%, however, retail sales fell in March. 3.5% more than expected from the previous year.
Unemployment rates in China
The unemployment rate in 31 major Chinese cities rose from 5.4% in February to 6% in March, the highest rate ever, according to official data going back to 2018.
The unemployment rate in March for those aged 16-24 remained at 16%, the highest rate since August 2020, and the national unemployment rate in cities rose in March to 5.8% from 5.5% in February.
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