China's economy grows still-weak 4.8% in January-March

China’s economic growth edged up to a still-weak 4.8% over a year earlier in the first three months of 2022 as a wave of coronavirus outbreaks led to shutdowns of major industrial cities

BEIJING -- China’s economic growth edged up to a still-weak 4.8% over a year earlier in the first three months of 2022 as industrial cities shut down to fight coronavirus outbreaks, threatening to disrupt global trade and manufacturing.

Growth in the world's second-largest economy crept up from the previous quarter’s 4% following a slump triggered by tighter controls on use of debt by China’s vast real estate industry, government data showed Monday. Compared with the previous quarter, as other major economies are measured, growth slowed to 1.3% from 1.4%.

“More pain will come" in the current quarter, Iris Pang of ING said in a report. “Further impacts from lockdowns are imminent."

The slowdown hurts China's trading partners by depressing demand for oil, steel, consumer goods, food and other imports. Oil prices, which spiked after Russia’s attack on Ukraine, have fallen back somewhat on expectations Chinese consumption will weaken.