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Q1 data shows Chinese economy recovering from 10-year low (04/17/2009)

Updated: 4/17/2009 10:03:00 AM

China released a range of first-quarter economic data Thursday that showed economic growth at a 10-year low but also provided evidence of possible turnaround sparked by the 4 trillion yuan (586 billion U.S. dollars) stimulus package drafted last year.

Gross domestic product (GDP) expanded by 6.1 percent year on year in the first quarter, official data showed Thursday.

The quarterly growth rate was the lowest in 10 years, as the global downturn held back the world´s fastest-growing economy. The rate was 4.5 percentage points lower than the first quarter of 2008 and 0.7 percentage point lower than in the fourth quarter.

GDP reached 6.5745 trillion yuan in the first quarter, Li Xiaochao, spokesman of the National Bureau of Statistics (NBS), told a press conference.

Source: Xinhua

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