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China's Q1 GDP growth slows to 7.7 pct

English.news.cn   2013-04-15 10:03:58            

BEIJING, April 15 (Xinhua) -- China's gross domestic product (GDP) growth unexpectedly slowed to 7.7 percent in the first quarter of 2013, down from 7.9 percent during the final quarter of 2012, data from the National Bureau of Statistics showed on Monday.

The rate was weaker than most market expectations, but still stayed above the 7.5-percent full-year target for 2013 set by the government last month.

According to preliminary statistics, the GDP totaled 11.89 trillion yuan (1.9 trillion U.S. dollars) in the first three months.

"The data has continued a stabilizing growth trend that took shape late last year, showing that the new government does not put pursuing growth as its number-one task," said Wang Jun, an economist at the China Center for International Economic Exchanges.

China's full-year annual growth in 2012 eased to 7.8 percent, its weakest since 1999.

GDP figures headed a string of other data showing that industrial output grew 9.5 percent year on year in the first quarter of 2013, down from the 11.6-percent pace recorded during the same period of last year.

The growth of fixed-asset investment, a measure of government spending on infrastructure, remained unchanged at 20.9 percent during the period compared to a year earlier.

Retail sales, a key indicator of consumer spending, increased 12.4 percent from a year earlier, easing from the 14.8 percent logged in the same period last year.


China's Q1 fixed-asset investment up 20.9 pct

BEIJING, April 15 (Xinhua) -- China's urban fixed asset investment rose 20.9 percent year on year to 5.8092 trillion yuan (929.47 billion U.S. dollars) in the first quarter of 2013, at a same pace year on year, the National Bureau of Statistics (NBS) said on Monday.

Investment in property development climbed 20.2 percent, down 3.3 percentage points over the same period of last year, the NBS said.  Full story

China's Q1 industrial output growth slows to 9.5 pct

BEIJING, April 15 (Xinhua) -- China's industrial value-added output rose 9.5 percent year on year in the first quarter, down 2.1 percentage points from the same period last year, the National Bureau of Statistics said Monday.  Full story

China's retail sales up 12.4 pct in Q1

BEIJING, April 15 (Xinhua) -- China's retail sales grew 12.4 percent year on year to 5.5451 trillion yuan (887.22 billion U.S. dollars) in the first quarter of this year, down 2.4 percentage points year on year, the National Bureau of Statistics said on Monday.

The bureau attributed the slower growth to decrease in the catering sector due to the the efforts by the government to curb fiscal spending.  Full story

China targets 7.5-pct GDP growth

BEIJING, March 5 (Xinhua) -- The Chinese government announced Tuesday that its GDP growth target will remain around 7.5 percent this year to leave room for economic restructuring.

The target is intended to help create jobs and improve people's well-being, Premier Wen Jiabao said while delivering his last government work report to the opening session of 12th National People's Congress (NPC), China's top legislature.  Full story

Think tank predicts 8.4-pct China GDP growth

BEIJING, Jan. 26 (Xinhua) -- A leading think tank predicted on Saturday that China's GDP will grow in 2013 at a rate of 8.4 percent, up by 0.6 percentage points from that of 2012.

The Center for Forecasting Science with the Chinese Academy of Sciences said it expects China's economy will see a modest rebound in 2013, with secondary and tertiary industries rising by 8.9 percent and 8.8 percent, respectively.  Full story

ADB raises China 2013 growth forecast

BEIJING, April 9 (Xinhua) -- The Asian Development Bank (ADB) has revised its forecast for China's 2013 economic growth from 8.1 percent to 8.2 percent while stressing downside risks.

Buoyed by strong consumer spending and fiscal expenditure, China's economic growth is expected to rebound from the 13-year low of 7.8 percent in 2012 to 8.2 percent this year, according to an ADB report released on Tuesday. The Chinese economy will maintain its recovering momentum in the first half of 2013, and its economic growth will stabilize in the second half as the effects of last year's stimulus package sink in, said Hamid L. Sharif, country director for ADB's Resident Mission in China.  Full story 

Editor: Zhu Ningzhu
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