China’s economic growth falls to 3%, gradually reviving

17 January 2023
2023-01-17 15:58

China’s economic growth fell to its second-lowest level in at least four decades last year under pressure from anti-virus controls and a real estate slump, but activity is reviving after restrictions that kept millions of people at home and sparked protests were lifted.

The world's No. 2 economy grew by 3% in 2022, less than half of the previous year's 8.1% rate, official data showed Tuesday.That was the second-lowest annual rate since at least the 1970s after 2020, when growth fell to 2.4% at the start of the coronavirus pandemic.The International Monetary Fund and private sector forecasters expect economic growth no higher than about 4% through the rest of the decade.

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