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Chinese GDP Inline, Industrial Production Falls

by on April 16, 2014 3:26 am GMT
 

The much anticipated Chinese gross domestic product came inline with expectations of 7.4 percent in the first quarter for a year earlier. This is .3 percent slower than the fourth quarter of 2013. Growth has slowed as the Chinese government aims to crack down on unscrupulous growth expansion policies.

The National Bureau of Statistics data showed that China only grew 1.4 percent, seasonally adjusted, from the fourth quarter. This was a tenth-percent lower than expectations.

Industrial production was a miss from expectations, growing 8.8 percent in March compared to the nine percent economists were forecasting. It was modestly higher that the 8.6 percent seen in the January to February period. Fixed-asset investment also missed estimates, coming in at 17.6 percent versus expectations of 18 percent. This was .3 percent lower than the 17.9 percent increase seen in the January to February period.

Retail sales increased 12.2 percent, a tenth-percent higher than forecasted.

Risk assets are higher in early trade. The yen is lower on hopes of continued easing by the Bank of Japan, while the S&P 500 futures are up five points, and the dollar is modestly higher.