Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  15.4.2013 9:23:50

China - 1Q GDP growth slowed to 7.7% and fell short of estimates, the industry grew by 8.9%


Chinese Statistical Office announced that GDP in Q1 of this year grew at a rate of 7.7% annually compared to 7.9% from 4Q12 and the average expectations set on growth to 8%. Overall range estimates ranged from 7.5 to 8.3%.
The data presented here are for the markets quite disappointing because they show. that real economic development in China, and not just in it to be weaker than is generally estimated.
The government this year has set a target growth of 7.5%. The World Bank today lowered its estimates for GDP growth this year from 8.4 to 8.3%

Statistical Office of the designated economic development in Q1 this year as stable in comparison with other countries of the world also very high. The new government has already declared that more important than the actual rate of growth will be its quality.

Industrial production in China in March grew by 8.9%, which is relatively lagged significantly behind the estimated market growth of 10.1% and a combined growth for the first two months of the year, when the average reached a level of 9.9%. The decline in growth rate reflects primarily the weakening pace of production in light industry, which pays for most general decline in consumer demand for government campaigns calling for střídmějšímu lifestyle. In Q1 of this year, the industry grew by 9.5% compared to 10% from 4Q12.

Retail sales grew by 12.6%, which is filled with market expectations. For the full Q1 then sales grew by 12.5% ??compared to 14.5% from 4Q12.

Fixed investment excluding residential construction rose in Q1 by 20.9% compared to an estimated 21.3% market and 21.2% in the first two months of this year.

The services sector in Q1 represented 47.8% of the total economy.

Energy production in Q1 decreased by 2.4%, the production of electricity decreased by 2.3% due to a general decline in domestic demand.
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