BEIJING (Reuters) – China’s economy grew 5.4% in the fourth quarter from a year earlier, official data showed on Friday, significantly beating analysts’ expectations and enabling the government to meet its annual growth target.
Analysts polled by Reuters had forecast fourth-quarter gross domestic product (GDP) to rise 5.0% from a year earlier, accelerating from 4.6% in the third quarter as a series of support measure. Growth in the quarter marked the fastest since the second quarter of 2023.
For the full year 2024, the world’s second-largest economy grew by 5.0%, according to data from the National Bureau of Statistics, meeting the government’s annual growth target of around 5%. Analysts had predicted a growth of 4.9 percent.
On a quarterly basis, GDP rose 1.6% in October and December, compared with a forecast 1.6% increase and a revised 1.3% rise in the previous quarter.
Chinese policymakers have unveiled a blitz of stimulus measures since last September to revive faltering growth and have vowed to do more this year as US President-elect Donald Trump, who has proposed steep tariffs on Chinese goods, is due to return to the White House next week.
