China’s economic growth slowed unexpectedly in the three months ended December, figures from the National Bureau of Statistics showed Tuesday.
Gross domestic product grew 6.8 percent year-over-year in the fourth quarter, slower than the 6.9 percent climb in the third quarter. Economists had expected the growth to remain stable at 6.9 percent.
In 2015, GDP growth eased to a 25-year low of 6.9 percent from 7.3 percent in the previous year. It was also lower than government’s 7.0 percent target.
On quarterly basis, the economy advanced a seasonally adjusted 1.6 percent in the three month-period to December, but slower than prior quarter’s 1.8 percent rise. It was expected to remain steady at 1.8 percent.
Annual investment in fixed assets, excluding rural households surged 10.0 percent in the fourth quarter, below economists’ expectations for a 10.2 percent gain.
Separately, the statistical office revealed that industrial production rose 5.9 percent in December from a year ago. The expected rate of increase was 6.0 percent.
Retail sales climbed 11.1 percent yearly in December, which was also slower than the 11.3 percent rise expected by economists.
The material has been provided by InstaForex Company – www.instaforex.com