In the first quarter of 2023, China’s GDP has grown by 2.2% compared to the previous quarter and by 4.5% compared to the previous year. These growth rates are high in an international comparison and are the result of a strong economic recovery after a year marked by repeated and sporadic COVID-related lockdowns, which led to high volatility in economic activity. Inflation levels are modest, suggesting that the country has been affected little by the economic uncertainty related to the Russian invasion of Ukraine, and by the rise in energy prices which led to significant price increases among Western countries. The OECD economic outlook expects inflation to stabilize in the range of 1.6-2.5% until the end of 2024.
July 2023
ECSA Chemicals AG
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