China's economy is ending the first quarter of 2023 with positive momentum. A business survey shows job growth, increased retail spending, and revenue growth. Official data reports strong numbers in retail sales, industrial production, and investment. Despite rising interest rates, borrowing has slowed down. The government has set a growth target of 5% for the year.
China's economy is doing better than expected. Retail sales, industrial production, and investment all grew more than analysts predicted in the first two months of the year. Online retail sales also increased significantly. However, consumer demand is still weak, and investment in real estate has fallen. The government is considering further policy easing measures to boost growth.
The UK economy grew a modest 0.2% in January, driven by construction and services. However, it remains in a shallow recession, with overall output falling by 0.3% compared to a year ago. While these figures are slightly better than expected, economists caution that it's too early to say if the recovery is sustainable.
