China’s economy grew by 6.9 percent in the first quarter of 2017, according to official figures.

The growth rate, which compares expansion with the same three months in the previous year, was slightly higher than many economists had forecast, reports the BBC.

State-led infrastructure spending and demand for new property helped drive the world’s second largest economy.

Last month China cut its growth target for this year to 6.5 percent from 6.7 percent in 2016.

China’s National Bureau of Statistics in a statement said “the national economy maintained the momentum of steady and sound development from the second half of last year, getting off to a good start in 2017 and laying a solid foundation for accomplishing the whole-year growth target.”

Another set of data also suggests a pick-up in domestic consumption. February retail sales jumped 10.9 percent from the previous year.

BDST: 1125 HRS, APR 17, 2017
SR