China's gross domestic product likely perked up in the first quarter of the year, a Reuters poll showed on Friday, as the end of strict COVID-19 curbs helped lift the world's second-largest economy out of a crippling pandemic slump.
GDP growth was seen speeding up to 4.0% in the first quarter from a year earlier, from 2.9% in the previous three months, according to the median forecast of 70 economists polled by Reuters. That would be the fastest growth since the first quarter of last year.
The government has set a modest target for economic growth of around 5% for this year, after badly missing the 2022 goal.The government is due to release first quarter GDP data, along with March activity data, at 0200 GMT on April 18.China's exports unexpectedly surged in March, data showed this week, but analysts cautioned the improvement partly reflects suppliers catching up with unfulfilled orders after last year's COVID-19 disruptions.
On a quarterly basis, the economy is forecast to grow 2.2% in January-March, compared with no change in October-December, the poll showed. Analysts polled by Reuters expect the central bank to keep the benchmark lending rate - the one-year loan prime rate and banks' reserve requirement ratio - until the end of the 2023.
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