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China s economy lost momentum in Q1

April 15, 2013

China’s economy slowed more than anticipated in the first quarter of this year. Gross domestic product expanded 7.7% from a year earlier, compared to a market consensus of 8% and 7.9% in the final quarter of 2012. Quarter-on-quarter, the world’s second-biggest economy expanded 1.6% (expected 2%), after 2% in the previous quarter. For the full-year 2012, China’s economy rose 7.8%, the least since 1999. Industrial production rose 8.9% in March compared to the same period a year earlier, while analysts had estimated a growth rate of 10.1%, according to Bloomberg. In the previous two months, production rose 9.9% combined. Chinese retail sales increased 12.6% in March, matching the median forecast.