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China GDP accelerates sharply in Q4

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Staff Writer | January 20, 2017
China GDP accelerates
Economy in China   Fixed asset investment ticked lower

China's economic expansion accelerated slightly at the end of 2016, official government data revealed, but more timely figures for December appeared to point to a slowdown in activity.

During the fourth quarter, China's gross domestic product expanded at a year-on-year clip of 6.8%, following three consecutive quarters of growth at 6.7%, data published by the National Bureau of Statistics showed.

A fourth quarter of identical GDP growth would have pushed the credibility of government statisticians in Beijing, Evans-Pritchard mused.

The economy was likely growing closer to 6.4%, Capital Economics said, referencing readings from its own 'in-house' proxy for Chinese growth, but after growth of just 5.3% in the third quarter and of 4.4% in the first half of 2016.

Other data included readings on retail sales, industrial production and fixed asset investment.

Retail sales grew by 10.9% on the year in December (consensus: 10.7%), versus 10.8% in the month before.

Industrial production, on the other hand, grew by 6.0% year-on-year, down from a 6.2% pace.

Fixed asset investment also ticked lower, growing by 8.1% for all of 2016, which was down from the 8.3% observed over the first eleven months of the year.

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