**China’s economy grew 1% in the fourth quarter, dodging expectations for a decline.**.
**Key Points:**.
* **GDP growth for 2022:** Full-year GDP growth came in at 3%, below the government’s target of 5.5%..
* **Consumption and investment:** Consumer spending and investment growth both slowed in the fourth quarter..
* **Exports and imports:** Exports and imports declined in December, reflecting weak global demand..
* **Economic outlook:** Analysts expect growth to remain subdued in 2023 due to ongoing COVID-19 restrictions and a weak property market..
**Beijing, China (CNN Business)**China’s economy grew 1% in the fourth quarter of 2022, narrowly dodging expectations for a decline, according to data released Tuesday by the National Bureau of Statistics (NBS)..
The result brought full-year growth for 2022 to 3%, below the government’s target of 5.5%. The slowdown was largely due to the impact of strict COVID-19 lockdowns and a slump in the property market..
**Fourth-Quarter Breakdown**.
In the fourth quarter, consumer spending grew by just 1.8% year-on-year, slowing from 3.9% growth in the previous quarter. Investment growth also decelerated, with fixed-asset investment rising 5.1% compared to 5.9% in the third quarter..
Exports fell by 9.9% in December, while imports declined by 7.5%. This reflected weak global demand and disruptions to supply chains..
**Economic Outlook**.
Analysts expect China’s economic growth to remain subdued in 2023. The country is still grappling with the impact of COVID-19 restrictions, and the property market remains weak..
The government has set a GDP growth target of around 5% for 2023, but economists believe that this may be difficult to achieve..
**Policy Implications**.
The Chinese government has been taking steps to support the economy, including cutting interest rates and increasing infrastructure spending. However, analysts say that more stimulus may be needed to boost growth..
**Conclusion**.
China’s economic growth in the fourth quarter was a modest improvement over the previous quarter, but it still fell short of expectations. The country faces significant challenges in 2023, including the ongoing COVID-19 pandemic and a weak property market. The government will need to implement further stimulus measures to achieve its growth target..
