(MarketWatch) -- China's economy grew at a slightly better-than-expected rate in the first quarter, buoyed by strong fixed-asset investment and firming industrial production, adding to an emerging picture of an economy that's on the mend.
"All in all, we take this number positively, we think this marks the trough of the existing cycle, but there is dichotomy between consumer prices and asset prices," said Credit Suisse's chief Asian economist Dong Tao in Hong Kong.
Gross domestic product expanded 6.1% in the first quarter from a year earlier, after expanding 6.8% in the fourth quarter, government data showed Thursday.
Expectations were a for a 6.0% expansion in gross domestic product for the period, according to the median forecast of 15 economists surveyed by Dow Jones Newswires.
Tao cautioned that while the overall tone was positive, China was far from cruising its way to recovery in the months ahead.
"It's a mixed bag of news, the export side is weaker than expected," he said.
Among other highlights, fixed-asset investment expanded 30.3% in March from a year earlier.
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