China Q1 GDP 4.8 yy, risks to outlook rise sharply
March activity indicators already show growing stress
Retail sales contract 3.5 in March, vs 1.6 in poll
March nationwide jobless rate highest since May 2020
Industrial output, investment beat forecasts

BEIJING, April 18 Reuters China39;s economy slowed in March as consumption, real estate and exports were hit hard, taking the shine off fasterthanexpected firstquarter growth numbers and worsening an outlook already weakened by COVID19 curbs and the Ukraine war.

The biggest nearterm challenge for Beijing is the tough new coronavirus rules at a time of heightened geopolitical risks, which have intensified supply and commodity cost pressures, boosting global inflation and forcing Chinese authorities to walk a tight rope as they try to stimulate growth without endangering price stability.

Gross domestic product GDP expanded by 4.8 in the first quarter from a year earlier, data from the National Bureau of Statistics showed on Monday, beating analysts39; expectations for a 4.4 gain and picking up from 4.0 in the fourth quarter.

A surprisingly strong start in the first two months of the year improved the headline figures, with GDP up 1.3 in JanuaryMarch in quarteronquarter terms, compared with expectations for a 0.6 rise and a revised 1.5 gain in the previous quarter.

Analysts say April data will likely be worse, with lockdowns in commercial centre Shanghai and elsewhere dragging on, prompting some to warn of rising…