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China's Q4 GDP grows by 8.9% YoY

India Infoline News Service / 07:46 , Jan 17, 2012

China's economic growth dropped below 9% for the first time in 10 quarters.

China's GDP expanded by 8.9% in the fourth quarter of 2011 from a year ago, beating consensus estimates and belying expectations of a hard landing in the world's second largest economy.

The fourth-quarter GDP data compared with the 8.7% median forecast by economists.

Nevertheless, China's economic growth dropped below 9% for the first time in 10 quarters.

For the whole of 2011, China's GDP grew by 9.2% compared with 10.4% in 2010, data released by the government showed on Tuesday.

Separately, data showed that China's December retail sales were up 18.1% YoY while the industrial output rose by 12.8% YoY.

Both the readings surpassed consensus projections.

The gain in industrial production compared with the median estimate of 12.3% and a 12.4% increase in November.

Fixed-asset investment (excluding rural households) grew by 23.8% last year, compared with the median forecast of a 24.1% gain.

Asian markets buoyant on China's GDP data






 



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