Advertisement

HindustanTimes Mon,22 Dec 2014

China GDP grows 7.7%, slowest expansion in 13 years: govt

AFP  Beijing, January 20, 2014
First Published: 07:54 IST(20/1/2014) | Last Updated: 08:00 IST(20/1/2014)

China's economy grew 7.7% last year, the government said Monday, in line with expectations and the same as 2012, when it recorded its slowest expansion in 13 years.

Growth for the October-December quarter also came in at 7.7%, the National Bureau of Statistics (NBS) said, slowing from 7.8% in the previous three months.

The 2013 GDP figure was the same as the median forecast in a survey of 14 economists by AFP and as usual exceeded the government's growth target for the year, which was declared as 7.5%.

Growth for the fourth quarter, meanwhile, was better than the AFP survey's median forecast of 7.6%.

"Generally speaking China's economy showed good momentum of stable and moderate growth in 2013, which is (a) hard-earned achievement," the NBS said in a statement.

"However we should keep in mind that the deep-rooted problems built up over time are yet to be solved in such a critical period for China's economy."


Advertisement
more from Business

Sensex extends gains, up 87 points in early trade

The benchmark BSE Sensex gained over 87 points in early trade on Monday on mild buying by funds and investors amid robust global trends coupled with positive domestic sentiments after the introduction of GST Bill in the Lok Sabha on Friday.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved