China Economy Growth Slows, May Cue Easing |
| Bloomberg - Jan 16, 2012 |
China’s economy expanded at the slowest pace in 10 quarters as export demand moderated and a prolonged campaign against consumer and property-price gains cooled growth.
Gross domestic product rose 8.9 percent in the fourth quarter from a year earlier, the statistics bureau said in Beijing today. Growth fell below 9 percent for the first time since mid-2009, based on previously reported data, and compared with the 8.7 percent median forecast in a Bloomberg News survey of 26 economists. Industrial production in December increased 12.8 percent from a year earlier, it said.
The report may increase pressure on Premier Wen Jiabao to tilt policies toward sustaining growth in the world’s second- biggest economy, as policy makers predict a “grim” outlook for exports and inflation concerns diminish. Liang Wengen, China’s richest man and chairman of equipment maker Sany Heavy Industry Co., told Wen this month that construction-machinery demand is weak and called for an increase in infrastructure investment.
Read Full Article from Bloomberg
- Posted: 2012-01-16 20:53:31
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