{"id":12790,"date":"2020-12-07T14:24:44","date_gmt":"2020-12-07T18:24:44","guid":{"rendered":"https:\/\/www.bu.edu\/gdp\/?p=12790"},"modified":"2021-06-28T11:43:41","modified_gmt":"2021-06-28T15:43:41","slug":"chart-of-the-week-chinas-economic-growth-amidst-covid-19","status":"publish","type":"post","link":"https:\/\/www.bu.edu\/gdp\/2020\/12\/07\/chart-of-the-week-chinas-economic-growth-amidst-covid-19\/","title":{"rendered":"Chart of the Week: China\u2019s Economic Growth Amidst COVID-19"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">By Yinan Zhang<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the aftermath of the COVID-19 outbreak, China\u2019s economic growth dipped into negative territory with a year-on-year growth of -6.8 percent in the first quarter of 2020, compared to growth rates above 6 percent in previous years.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As the epidemic got under control within China and support measures were deployed allowing the reopening of the economy, growth recovered, gradually reaching 4.9 percent by the third quarter. The pickup in economic activity has been mainly driven by investment activity, while consumption has remained sluggish (Exhibit 1).\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" src=\"\/gdp\/files\/2020\/12\/picture-2-636x463.png\" alt=\"\" width=\"636\" height=\"463\" class=\"size-medium wp-image-12813 aligncenter\" \/><\/p>\n<p><span style=\"font-weight: 400;\">On the supply side, both the secondary (manufacturing) and tertiary (services) sectors were hit hard in the first quarter (Exhibit 2). However, the manufacturing sector has experienced a more rapid recovery, partly aided by policy support.<\/span><\/p>\n<p><img loading=\"lazy\" src=\"\/gdp\/files\/2020\/12\/picture-1-1-636x463.png\" alt=\"\" width=\"636\" height=\"463\" class=\"size-medium wp-image-12814 aligncenter\" \/><\/p>\n<p><span style=\"font-weight: 400;\">The data for Quarter 4 of 2020 will be released in January 2021. The ultimate strength of the recovery remains to be seen.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Yinan Zhang In the aftermath of the COVID-19 outbreak, China\u2019s economic growth dipped into negative territory with a year-on-year growth of -6.8 percent in the first quarter of 2020, compared to growth rates above 6 percent in previous years.\u00a0 As the epidemic got under control within China and support measures were deployed allowing the [&hellip;]<\/p>\n","protected":false},"author":17868,"featured_media":12792,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[398,156,72,1],"tags":[266,529,394,389,530,532,531],"_links":{"self":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts\/12790"}],"collection":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/users\/17868"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/comments?post=12790"}],"version-history":[{"count":6,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts\/12790\/revisions"}],"predecessor-version":[{"id":12815,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts\/12790\/revisions\/12815"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/media\/12792"}],"wp:attachment":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/media?parent=12790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/categories?post=12790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/tags?post=12790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}