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China GDP grows real 4.6% in 3rd qtr

A spokesman for China's National Bureau of Statistics attends a press conference in Beijing on Oct. 18, 2024, following the release of the country's gross domestic product data for the July-September quarter. China's economy in the third quarter grew a real 4.6 percent from a year earlier, marking the slowest expansion since the first three months of 2023.

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China GDP grows real 4.6% in 3rd qtr

A spokesman for China's National Bureau of Statistics attends a press conference in Beijing on Oct. 18, 2024, following the release of the country's gross domestic product data for the July-September quarter. China's economy in the third quarter grew a real 4.6 percent from a year earlier, with the pace of expansion slowing from the previous quarter amid a continued property sector crisis and weak spending.

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China GDP grows real 4.6% in 3rd qtr

A spokesman for China's National Bureau of Statistics attends a press conference in Beijing on Oct. 18, 2024, following the release of the country's gross domestic product data for the July-September quarter. China's economy in the third quarter grew a real 4.6 percent from a year earlier, with the pace of expansion slowing from the previous quarter amid a continued property sector crisis and weak spending.

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German industry insider: bullish on outlook of Chinese economy

STORY: German industry insider: bullish on outlook of Chinese economy SHOOTING TIME: June 1, 2024 DATELINE: June 2, 2024 LENGTH: 00:01:56 LOCATION: Berlin CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. various of China's industrial sector 2. SOUNDBITE (English): MICHAEL SCHUMANN, Chairman of BWA STORYLINE: The International Monetary Fund (IMF) has raised its forecast for China's GDP growth in 2024 to 5 percent from the April projection of 4.6 percent. A German industry insider shared his thoughts on the IMF's forecast revision. SOUNDBITE (English): MICHAEL SCHUMANN, Chairman of Federation of the Federal Association for Economic Development and Foreign Trade (BWA) "First, to say this quite clearly, it is a very good news and a very positive news because it will be a stimulus to the world economy if the growth rate in China is positive. We have always been bullish on the outlook of the Chinese economy. Our association BWA, we have been working with China, we have been fostering and supporting Sino-German econom

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Property Construction in Hangzhou

HANGZHOU, CHINA - OCTOBER 18, 2023 - Photo taken on Oct 18, 2023 shows a property under construction in Hangzhou, East China's Zhejiang province. On the same day, data released by the National Bureau of Statistics showed that from January to September 2023, the newly started housing area was 721.23 million square meters, down 23.4%. Among them, the newly started residential area of 525.12 million square meters, down 23.9%. From January to September, the sales area of commercial housing was 848.06 million square meters, down 7.5% year-on-year, of which the sales area of residential housing was down 6.3%. The sales volume of commercial housing was 8,907 billion yuan, down 4.6 percent, with residential sales down 3.2 percent.

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Property Construction in Hangzhou

HANGZHOU, CHINA - OCTOBER 18, 2023 - Photo taken on Oct 18, 2023 shows a property under construction in Hangzhou, East China's Zhejiang province. On the same day, data released by the National Bureau of Statistics showed that from January to September 2023, the newly started housing area was 721.23 million square meters, down 23.4%. Among them, the newly started residential area of 525.12 million square meters, down 23.9%. From January to September, the sales area of commercial housing was 848.06 million square meters, down 7.5% year-on-year, of which the sales area of residential housing was down 6.3%. The sales volume of commercial housing was 8,907 billion yuan, down 4.6 percent, with residential sales down 3.2 percent.

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Property Construction in Hangzhou

HANGZHOU, CHINA - OCTOBER 18, 2023 - Photo taken on Oct 18, 2023 shows a property under construction in Hangzhou, East China's Zhejiang province. On the same day, data released by the National Bureau of Statistics showed that from January to September 2023, the newly started housing area was 721.23 million square meters, down 23.4%. Among them, the newly started residential area of 525.12 million square meters, down 23.9%. From January to September, the sales area of commercial housing was 848.06 million square meters, down 7.5% year-on-year, of which the sales area of residential housing was down 6.3%. The sales volume of commercial housing was 8,907 billion yuan, down 4.6 percent, with residential sales down 3.2 percent.

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Property Construction in Hangzhou

HANGZHOU, CHINA - OCTOBER 18, 2023 - Photo taken on Oct 18, 2023 shows a property under construction in Hangzhou, East China's Zhejiang province. On the same day, data released by the National Bureau of Statistics showed that from January to September 2023, the newly started housing area was 721.23 million square meters, down 23.4%. Among them, the newly started residential area of 525.12 million square meters, down 23.9%. From January to September, the sales area of commercial housing was 848.06 million square meters, down 7.5% year-on-year, of which the sales area of residential housing was down 6.3%. The sales volume of commercial housing was 8,907 billion yuan, down 4.6 percent, with residential sales down 3.2 percent.

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Property Construction in Hangzhou

HANGZHOU, CHINA - OCTOBER 18, 2023 - Photo taken on Oct 18, 2023 shows a property under construction in Hangzhou, East China's Zhejiang province. On the same day, data released by the National Bureau of Statistics showed that from January to September 2023, the newly started housing area was 721.23 million square meters, down 23.4%. Among them, the newly started residential area of 525.12 million square meters, down 23.9%. From January to September, the sales area of commercial housing was 848.06 million square meters, down 7.5% year-on-year, of which the sales area of residential housing was down 6.3%. The sales volume of commercial housing was 8,907 billion yuan, down 4.6 percent, with residential sales down 3.2 percent.

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Property Construction in Hangzhou

HANGZHOU, CHINA - OCTOBER 18, 2023 - Photo taken on Oct 18, 2023 shows a property under construction in Hangzhou, East China's Zhejiang province. On the same day, data released by the National Bureau of Statistics showed that from January to September 2023, the newly started housing area was 721.23 million square meters, down 23.4%. Among them, the newly started residential area of 525.12 million square meters, down 23.9%. From January to September, the sales area of commercial housing was 848.06 million square meters, down 7.5% year-on-year, of which the sales area of residential housing was down 6.3%. The sales volume of commercial housing was 8,907 billion yuan, down 4.6 percent, with residential sales down 3.2 percent.

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Property Construction in Hangzhou

HANGZHOU, CHINA - OCTOBER 18, 2023 - Photo taken on Oct 18, 2023 shows a property under construction in Hangzhou, East China's Zhejiang province. On the same day, data released by the National Bureau of Statistics showed that from January to September 2023, the newly started housing area was 721.23 million square meters, down 23.4%. Among them, the newly started residential area of 525.12 million square meters, down 23.9%. From January to September, the sales area of commercial housing was 848.06 million square meters, down 7.5% year-on-year, of which the sales area of residential housing was down 6.3%. The sales volume of commercial housing was 8,907 billion yuan, down 4.6 percent, with residential sales down 3.2 percent.

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Property Construction in Hangzhou

HANGZHOU, CHINA - OCTOBER 18, 2023 - Photo taken on Oct 18, 2023 shows a property under construction in Hangzhou, East China's Zhejiang province. On the same day, data released by the National Bureau of Statistics showed that from January to September 2023, the newly started housing area was 721.23 million square meters, down 23.4%. Among them, the newly started residential area of 525.12 million square meters, down 23.9%. From January to September, the sales area of commercial housing was 848.06 million square meters, down 7.5% year-on-year, of which the sales area of residential housing was down 6.3%. The sales volume of commercial housing was 8,907 billion yuan, down 4.6 percent, with residential sales down 3.2 percent.

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U.S. unemployment remains 3.8 pct in September

STORY: U.S. unemployment remains 3.8 pct in September DATELINE: Oct. 7, 2023 LENGTH: 00:01:38 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of street view of the United States STORYLINE: U.S. employers added 336,000 jobs in September in sign of economic resilience, with unemployment rate unchanged at 3.8 percent, the U.S. Labor Department reported on Friday. Job gains occurred in leisure and hospitality, government, health care, professional, scientific, and technical services, and social assistance, the report indicated. Among the major worker groups, the unemployment rates for Whites (3.4 percent), Blacks (5.7 percent), Asians (2.8 percent), and Hispanics (4.6 percent) showed little or no change in September. The latest employment report showed that the labor force participation rate was unchanged at 62.8 percent, still slightly below the pre-pandemic level of 63.4 percent. Average hourly earnings for all employees on private nonfarm payrolls rose by 7 cents, or 0.2 per

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China's economic growth defies Western naysayers

STORY: China's economic growth defies Western naysayers DATELINE: Sept. 20, 2023 LENGTH: 00:03:19 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of street views in China 2. SOUNDBITE 1 (English): HARLEY SEYEDIN, President of American Chamber of Commerce in South China 3. various of street views in China 4. SOUNDBITE 2 (English): BENOIT BAZIN, CEO of Saint-Gobain Group 5. SOUNDBITE 3 (English): WALTER BENZ, President of Big Dutchman China 6. various of industries in China 7. SOUNDBITE 4 (English): NIREN ANAND, Indian businessman 8. SOUNDBITE 5 (English): CARL FEY, Professor, BI Norwegian Business School STORYLINE: Data from the National Bureau of Statistics showed Friday that China's retail sales of consumer goods, a major indicator of consumption strength, went up 4.6 percent year on year in August, 2.1 percentage points faster than the previous month. When some in the West once again bad-mouthed China's economy, international observers say otherwise. Seeing the rosy picture of the country's

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Press conference of Finance Ministry

24.08.2023, Tallinn. The ministry is forecasting a recession of 2 percent this year, but 2.7 percent economic growth next year. Inflation, meanwhile, is expected to slow to 9.6 percent this year, 4.6 percent next year and 2.5 percent in 2025. This forecast will be used by the Estonian government as the basis for drawing up the 2024 state budget bill. The prognosis was introduced by Minister of Finance Mart Võrklaev, Raoul Lättemäe, director of the ministry's Fiscal Policy Department and Kadri Klaos, director of the ministry's Public Finance Service. Photo: Sander Ilvest, Postimees

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Press conference of Finance Ministry

24.08.2023, Tallinn. The ministry is forecasting a recession of 2 percent this year, but 2.7 percent economic growth next year. Inflation, meanwhile, is expected to slow to 9.6 percent this year, 4.6 percent next year and 2.5 percent in 2025. This forecast will be used by the Estonian government as the basis for drawing up the 2024 state budget bill. The prognosis was introduced by Minister of Finance Mart Võrklaev, Raoul Lättemäe, director of the ministry's Fiscal Policy Department and Kadri Klaos, director of the ministry's Public Finance Service. Photo: Sander Ilvest, Postimees

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Press conference of Finance Ministry

24.08.2023, Tallinn. The ministry is forecasting a recession of 2 percent this year, but 2.7 percent economic growth next year. Inflation, meanwhile, is expected to slow to 9.6 percent this year, 4.6 percent next year and 2.5 percent in 2025. This forecast will be used by the Estonian government as the basis for drawing up the 2024 state budget bill. The prognosis was introduced by Minister of Finance Mart Võrklaev, Raoul Lättemäe, director of the ministry's Fiscal Policy Department and Kadri Klaos, director of the ministry's Public Finance Service. Photo: Sander Ilvest, Postimees

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Press conference of Finance Ministry

24.08.2023, Tallinn. The ministry is forecasting a recession of 2 percent this year, but 2.7 percent economic growth next year. Inflation, meanwhile, is expected to slow to 9.6 percent this year, 4.6 percent next year and 2.5 percent in 2025. This forecast will be used by the Estonian government as the basis for drawing up the 2024 state budget bill. The prognosis was introduced by Minister of Finance Mart Võrklaev, Raoul Lättemäe, director of the ministry's Fiscal Policy Department and Kadri Klaos, director of the ministry's Public Finance Service. Photo: Sander Ilvest, Postimees

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Malaysia witnesses more domestic visitors in Q1

STORY: Malaysia witnesses more domestic visitors in Q1 DATELINE: June 28, 2023 LENGTH: 00:02:54 LOCATION: Kuala Lumpur CATEGORY: ECONOMY SHOTLIST: 1. various of tourists at the Porta De Santiago in Malacca 2. various of tourists visiting the Stadthuys in the heart of Malacca City 3. various of the Malacca River and tourists enjoying a cruise ride in Malacca 4. various of Pulau Lang Tengah, Terengganu 5. various of Langkawi, Kedah STORYLINE: The number of Malaysia's domestic tourists rose 33.7 percent year-on-year to 48.6 million in the first quarter of 2023, official data showed Monday. The Department of Statistics Malaysia (DOSM) said in a statement that for quarter-on-quarter comparison, the number of domestic visitors increased by 3.9 percent as compared to the fourth quarter of 2022. Meanwhile, domestic tourism expenditure for the first quarter stood at 19.2 billion ringgit (4.1 billion U.S. dollars), jumped 47 percent year-on-year, and rose 4.6 percent quarter-on-quarter. DOSM data also showed that

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China's inflation remains flat, foreign trade shows resilience

STORY: China's inflation remains flat, foreign trade shows resilience DATELINE: June 9, 2023 LENGTH: 00:01:26 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of city scenes in China 2. various of factories 3. various of people shopping 4. various of city scenes in China 5. various of ports STORYLINE: China's inflation stays flat as the consumer price index (CPI) for May edged up 0.2 percent year on year, marking a higher increase compared to April's 0.1 percent, according to the data released Friday by the National Bureau of Statistics (NBS). Meanwhile, the country's producer price index (PPI), which measures costs for goods at the factory gate, went down 4.6 percent year on year in May. According to the bureau, the decrease expanded by 1 percentage point from that in April. Statisticians with the bureau attributed the decline to an overall downward trend in international commodity prices, weak demand in domestic and foreign industrial product markets, and the high comparison base during th

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China Manufacturing Industry

Workers work in the workshop of a machinery parts processing enterprise in Qingzhou Economic Development Zone, East China's Shandong province, June 9, 2023. On June 9, the National Bureau of Statistics released data, in May 2023, the national industrial producer prices fell by 4.6% year-on-year, down 0.9% month-on-month; The purchasing prices of industrial producers decreased by 5.3% year-on-year and 1.1% month-on-month. From January to May, the average price at the factory gate was down 2.6 percent from the same period last year, and the purchasing price at the industrial producer was down 2.3 percent.

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China Manufacturing Industry

Workers work in the workshop of a machinery parts processing enterprise in Qingzhou Economic Development Zone, East China's Shandong province, June 9, 2023. On June 9, the National Bureau of Statistics released data, in May 2023, the national industrial producer prices fell by 4.6% year-on-year, down 0.9% month-on-month; The purchasing prices of industrial producers decreased by 5.3% year-on-year and 1.1% month-on-month. From January to May, the average price at the factory gate was down 2.6 percent from the same period last year, and the purchasing price at the industrial producer was down 2.3 percent.

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China Manufacturing Industry

Workers work in the workshop of a machinery parts processing enterprise in Qingzhou Economic Development Zone, East China's Shandong province, June 9, 2023. On June 9, the National Bureau of Statistics released data, in May 2023, the national industrial producer prices fell by 4.6% year-on-year, down 0.9% month-on-month; The purchasing prices of industrial producers decreased by 5.3% year-on-year and 1.1% month-on-month. From January to May, the average price at the factory gate was down 2.6 percent from the same period last year, and the purchasing price at the industrial producer was down 2.3 percent.

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China Manufacturing Industry

Workers work in the workshop of a machinery parts processing enterprise in Qingzhou Economic Development Zone, East China's Shandong province, June 9, 2023. On June 9, the National Bureau of Statistics released data, in May 2023, the national industrial producer prices fell by 4.6% year-on-year, down 0.9% month-on-month; The purchasing prices of industrial producers decreased by 5.3% year-on-year and 1.1% month-on-month. From January to May, the average price at the factory gate was down 2.6 percent from the same period last year, and the purchasing price at the industrial producer was down 2.3 percent.

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China Manufacturing Industry

Workers work in the workshop of a machinery parts processing enterprise in Qingzhou Economic Development Zone, East China's Shandong province, June 9, 2023. On June 9, the National Bureau of Statistics released data, in May 2023, the national industrial producer prices fell by 4.6% year-on-year, down 0.9% month-on-month; The purchasing prices of industrial producers decreased by 5.3% year-on-year and 1.1% month-on-month. From January to May, the average price at the factory gate was down 2.6 percent from the same period last year, and the purchasing price at the industrial producer was down 2.3 percent.

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China Manufacturing Industry

Workers work in the workshop of a machinery parts processing enterprise in Qingzhou Economic Development Zone, East China's Shandong province, June 9, 2023. On June 9, the National Bureau of Statistics released data, in May 2023, the national industrial producer prices fell by 4.6% year-on-year, down 0.9% month-on-month; The purchasing prices of industrial producers decreased by 5.3% year-on-year and 1.1% month-on-month. From January to May, the average price at the factory gate was down 2.6 percent from the same period last year, and the purchasing price at the industrial producer was down 2.3 percent.

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China Manufacturing Industry

Workers work in the workshop of a machinery parts processing enterprise in Qingzhou Economic Development Zone, East China's Shandong province, June 9, 2023. On June 9, the National Bureau of Statistics released data, in May 2023, the national industrial producer prices fell by 4.6% year-on-year, down 0.9% month-on-month; The purchasing prices of industrial producers decreased by 5.3% year-on-year and 1.1% month-on-month. From January to May, the average price at the factory gate was down 2.6 percent from the same period last year, and the purchasing price at the industrial producer was down 2.3 percent.

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China Manufacturing Industry

Workers work in the workshop of a machinery parts processing enterprise in Qingzhou Economic Development Zone, East China's Shandong province, June 9, 2023. On June 9, the National Bureau of Statistics released data, in May 2023, the national industrial producer prices fell by 4.6% year-on-year, down 0.9% month-on-month; The purchasing prices of industrial producers decreased by 5.3% year-on-year and 1.1% month-on-month. From January to May, the average price at the factory gate was down 2.6 percent from the same period last year, and the purchasing price at the industrial producer was down 2.3 percent.

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Japan's industrial output rises 0.8 pct in March

STORY: Japan's industrial output rises 0.8 pct in March DATELINE: April 28, 2023 LENGTH: 00:00:42 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of ports and industrial manufacturing in Japan STORYLINE: Japan's industrial output rose from a month earlier in March, marking the second straight month of increase, the Ministry of Economy, Trade and Industry said in a report on Friday. According to the ministry, industrial output in March rose 0.8 percent from the previous month, with the seasonally adjusted index of output at factories and mines standing at 95.7 against the base of 100 for 2015. The figure for March follows an upwardly revised 4.6 percent increase logged in February, the ministry's data showed. The ministry's data set also showed the index of industrial shipments were up 0.4 percent to 93.1, while inventories gained 0.6 percent to 104.1 in the recording period. Industrial output fell 0.2 percent from the previous year in fiscal 2022 ended March, the ministry also said. The minis

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World food prices decline for 12th consecutive month: FAO

STORY: World food prices decline for 12th consecutive month: FAO DATELINE: April 8, 2023 LENGTH: 00:00:47 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of food in markets 2. various of restaurants in Rome STORYLINE: World food prices declined for the 12th consecutive month in March, the United Nations Food and Agriculture Organization (FAO) reported on Friday. It was the first time the index has fallen for a full year. FAO's broad Food Price Index slipped 2.1 percent in March, and it is now down 20.5 percent since reaching its all-time peak a year ago after a big surge following the Russia-Ukraine conflict. Grains and cereals, the largest component in the index, was down 5.6 percent compared to the previous month and down 18.6 percent over the last 12 months. Among grains and cereals, wheat prices fell the most, dipping 7.1 percent as exports from Ukraine via the Black Sea assuaged market fears. Corn prices were 4.6 percent lower due to strong production in South America, while rice prices were

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Türkiye to enter hassle-free winter with full gas storage

STORY: Türkiye to enter hassle-free winter with full gas storage DATELINE: Oct. 22, 2022 LENGTH: 00:02:10 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of Türkiye's natural gas storage facilities in Aksaray province (edited) 2. various of Türkiye's natural gas storage facilities in Silivri, Istanbul province (courtesy of the state Petroleum Pipeline Corporation (Botas)) 3. SOUNDBITE (Turkish): ALI ARIF AKTURK, Energy researcher and expert STORYLINE: As winter nears, Türkiye has filled its underground natural gas storage units to the brim, confident to be immune from the energy aftershock of the Russia-Ukraine crisis. In October, the state-owned Petroleum Pipeline Corporation (Botas) announced that the country's two underground natural gas facilities have reached a "storage capacity of 100 percent." According to Botas, with respective storage capacities of 4.6 billion cubic meters (bcm) and 1.2 bcm, the two facilities should provide enough gas to cover about 10 percent of annual consumption. Al

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Israel hikes benchmark rate by 0.75 pct amid efforts to curb inflation

STORY: Israel hikes benchmark rate by 0.75 pct amid efforts to curb inflation DATELINE: Oct. 4, 2022 LENGTH: 0:01:27 LOCATION: Tel Aviv CATEGORY: ECONOMY SHOTLIST: 1. various of skyscrapers in Israel's economic center Tel Aviv 2. Governor of Israeli Central Bank Amir Yaron announces rate increase 3. Shopping mall in Tel Aviv 4. Governor of Israeli Central Bank Amir Yaron makes remarks 5. Streets view of Israel's economic center Tel Aviv STORYLINE: The Bank of Israel on Monday raised its benchmark rate by 0.75 percentage points from 2 percent to 2.75 percent. The sharp rate hike comes as Israel is trying to control its annual inflation, which fell to 4.6 percent in August from 5.2 percent in July, still well above the government target range of 1-3 percent. This is the fifth rate hike made by Israel's central bank since mid-April when the rate was as low as 0.1 percent, and the second consecutive 0.75-percent aggressive one after it did so in late August. The current basic rate is also the highe

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Fed's response to higher inflation in U.S. put pressure on developing countries: economist

STORY: Fed's response to higher inflation in U.S. put pressure on developing countries: economist DATELINE: Sept. 29, 2022 LENGTH: 00:01:59 LOCATION: Washington D.C. CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. various of street view of East Asia countries 2. SOUNDBITE (English): AADITYA MATTOO, World Bank East Asia and Pacific Chief Economist STORYLINE: The World Bank said Monday that the developing East Asia and Pacific (EAP) region is projected to grow by 3.2 percent this year. According to the World Bank's newly released East Asia and Pacific Economic Update, the region's growth is projected to slow this year from 7.2 percent in 2021, before accelerating to 4.6 percent next year. The report noted that rising inflation abroad has provoked interest rate increases, which in turn have caused capital outflows and currency depreciations in some East Asia and Pacific countries. SOUNDBITE (English): AADITYA MATTOO, World Bank East Asia and Pacific Chief Economist "I think the (U.S.) Fed's response to higher i

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ADB lowers developing Asia's growth forecast for 2022 to 4.6 pct

STORY: ADB lowers developing Asia's growth forecast for 2022 to 4.6 pct DATELINE: July 21, 2022 LENGTH: 00:02:33 LOCATION: Manila CATEGORY: ECONOMY SHOTLIST: 1. various of ADB headquarters 2. various of street views of Manila STORYLINE: The Asian Development Bank (ADB) lowered developing Asia's growth forecast for 2022 on Wednesday to 4.6 percent from 5.2 percent, reflecting worsened economic prospects because of geopolitical tensions, more aggressive monetary tightening in advanced economies, and the COVID-19 pandemic. In its supplement to the Asian Development Outlook 2022, the bank's flagship annual economic publication, the ADB also slashed its 2023 growth forecast for developing Asia to 5.2 percent from 5.3 percent. The Manila-based bank slashed its 2022 growth forecast for East Asia from 4.7 percent to 3.8 percent; South Asia's growth forecast is lowered from 7 percent to 6.5 percent for 2022 and from 7.4 percent to 7.1 percent for 2023. The 2022 forecast for Southeast Asia is marginally

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BRAZIL-RIO DE JANEIRO-ECONOMY-GDP

(220304) -- RIO DE JANEIRO, March 4, 2022 (Xinhua) -- Vehicles drive on a road in Rio de Janeiro, Brazil, on March 4, 2022. Brazil's economy grew 4.6 percent in 2021, marking the fastest rate since 2010 and a clear recovery from the sharp 3.9 percent contraction in gross domestic product (GDP) in 2020, the state-run Brazilian Institute of Geography and Statistics (IBGE) said on Friday. (Xinhua/Wang Tiancong)

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BRAZIL-RIO DE JANEIRO-ECONOMY-GDP

(220304) -- RIO DE JANEIRO, March 4, 2022 (Xinhua) -- Photo taken on March 4, 2022 shows the headquarters of oil company Petrobras in Rio de Janeiro, Brazil. Brazil's economy grew 4.6 percent in 2021, marking the fastest rate since 2010 and a clear recovery from the sharp 3.9 percent contraction in gross domestic product (GDP) in 2020, the state-run Brazilian Institute of Geography and Statistics (IBGE) said on Friday. (Xinhua/Wang Tiancong)

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BRAZIL-RIO DE JANEIRO-ECONOMY-GDP

(220304) -- RIO DE JANEIRO, March 4, 2022 (Xinhua) -- Photo taken on March 4, 2022 shows the building where the Brazilian Institute of Geography and Statistics is located in Rio de Janeiro, Brazil. Brazil's economy grew 4.6 percent in 2021, marking the fastest rate since 2010 and a clear recovery from the sharp 3.9 percent contraction in gross domestic product (GDP) in 2020, the state-run Brazilian Institute of Geography and Statistics (IBGE) said on Friday. (Xinhua/Wang Tiancong)

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BRAZIL-RIO DE JANEIRO-ECONOMY-GDP

(220304) -- RIO DE JANEIRO, March 4, 2022 (Xinhua) -- Photo taken on March 4, 2022 shows a branch of a Brazilian bank in Rio de Janeiro, Brazil. Brazil's economy grew 4.6 percent in 2021, marking the fastest rate since 2010 and a clear recovery from the sharp 3.9 percent contraction in gross domestic product (GDP) in 2020, the state-run Brazilian Institute of Geography and Statistics (IBGE) said on Friday. (Xinhua/Wang Tiancong)

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BRAZIL-RIO DE JANEIRO-ECONOMY-GDP

(220304) -- RIO DE JANEIRO, March 4, 2022 (Xinhua) -- Vehicles drive on a road in Rio de Janeiro, Brazil, on March 4, 2022. Brazil's economy grew 4.6 percent in 2021, marking the fastest rate since 2010 and a clear recovery from the sharp 3.9 percent contraction in gross domestic product (GDP) in 2020, the state-run Brazilian Institute of Geography and Statistics (IBGE) said on Friday. (Xinhua/Wang Tiancong)

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BRAZIL-RIO DE JANEIRO-ECONOMY-GDP

(220304) -- RIO DE JANEIRO, March 4, 2022 (Xinhua) -- Photo taken on March 4, 2022 shows a branch of a Brazilian bank in Rio de Janeiro, Brazil. Brazil's economy grew 4.6 percent in 2021, marking the fastest rate since 2010 and a clear recovery from the sharp 3.9 percent contraction in gross domestic product (GDP) in 2020, the state-run Brazilian Institute of Geography and Statistics (IBGE) said on Friday. (Xinhua/Wang Tiancong)

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BRAZIL-RIO DE JANEIRO-ECONOMY-GDP

(220304) -- RIO DE JANEIRO, March 4, 2022 (Xinhua) -- Photo taken on March 4, 2022 shows the headquarters of oil company Petrobras in Rio de Janeiro, Brazil. Brazil's economy grew 4.6 percent in 2021, marking the fastest rate since 2010 and a clear recovery from the sharp 3.9 percent contraction in gross domestic product (GDP) in 2020, the state-run Brazilian Institute of Geography and Statistics (IBGE) said on Friday. (Xinhua/Wang Tiancong)