China’s Economy Expands by 5% in Q1 Despite Escaping Immediate Effects of Iran War

China’s economy showed robust growth in the first quarter of this year, expanding by 5% compared to the same period last year. The data released on Thursday also indicated a positive trend of 1.3% quarter-on-quarter growth, signaling resilience amidst global uncertainties. Notably, the impact of the ongoing Iran war, now in its seventh week, has not significantly hampered China’s economic performance thus far. Despite concerns over escalating energy prices and potential inflationary pressures, economists remain cautiously optimistic about China’s economic outlook for the rest of the year. The latest data revealed that China’s industrial output in March increased by 5.7%…