NBS: China’s Q1 GDP falls 1st time since 1992 by 6.8%

China’s gross domestic product (GDP) over January-March fell for the first time since 1992 when the country’s National Bureau of Statistics (NBS) commenced the official release of the GDP figures by quarter, down 6.8% on year to Yuan 20.65 trillion ($2.9 trillion), according to the latest NBS release on April 17, confirming the heavy blow of the COVID-19 on China’s economy.
China commenced the yearly GDP figures since 1952, which had sustained positive annual growths over 1977-2019, Mysteel Global noted from the NBS data. Despite the first quarterly decline in the country’s GDP, NBS expressed its satisfaction at the nationwide efforts in battling against the virus spread and the country’s managing to


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