China Economy Slows Down in Fourth Quarter of 2013

Beijing – China's economic growth in the fourth quarter of 2013 was recorded at 7.7 percent, lower than the previous quarter, which was recorded at 7.8 percent. However, this number is still above the market and analysts' prediction of 7.6 percent. 

As reported by Reuters on Monday, January 20, 2014, China's annual economic growth in 2013 is 7.7 percent. Based on the data recorded by Chinese National Bureau of Statistics, the number is above the government's target in the beginning of 2013, which was only 7.5 percent.

The growth was accompanied with 9.7 percent increase in the country's manufacturing industry production capacity in December 2013 compared to the same period in 2012. The figure is lower than analysts' expectation surveyed by Reuters, which was 9.8 percent.

China's retail sector in December 2013 also experienced an increase by 13.6 percent, which is in accordance with analyst's expectation. Meanwhile, Chinese investment value increased by 19.6 percent in 2013, lower than the expected 19.8 percent.

Source : Tempo