China's economy grew more than expected in the first quarter but the war in the Middle East darkens prospects due to supply side shocks and its heavy reliance on energy imports.
Gross domestic product expanded 5.0 percent on a yearly basis in the first quarter, the National Bureau of Statistics reported Thursday. The annual growth exceeded the prior quarter's 4.5 percent expansion and also economists' forecast of 4.8 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.