The daily business briefing: April 18, 2023

China's economy expanded more than expected, David's Bridal files for bankruptcy protection, and more

A David's Bridal storefront
(Image credit: Justin Sullivan/Getty Images)

1. China's economy expanded more than expected after COVID restrictions lifted

China's National Bureau of Statistics reported Tuesday that the Chinese economy expanded 4.5 percent in the first quarter compared to the same period in 2022 as the world's second biggest economy bounced back after lifting its strict "zero-COVID" lockdowns. Economists surveyed by The Wall Street Journal had expected just 4.0 percent growth. China's economy grew by 2.2 percent compared to the previous quarter, when a surge of COVID infections that hit after the restrictions were lifted in December dented activity in the end of the year. The growth came as Chinese consumers resumed shopping, eating in restaurants, and traveling after Beijing abruptly ended the tight restrictions, which had aimed to prevent coronavirus infections.

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