Chinese GDP Growth Slows in Q1


China’s economy advanced 7.4 percent in the first quarter of 2014, slowing from a 7.7 percent expansion in the previous period, but beating market forecasts. It is the lowest growth since the third quarter of 2012, as exports and imports contracted and growth in fixed asset investment eased.

In the first quarter of 2014, industrial production growth rose to 7.3 percent yoy. Mining output advanced 3.3 percent,  manufacturing increased 9.9 percent and the production and supply of electricity, heat, gas and water went up by 4.5 percent. The value added of the state-owned and state holding enterprises rose by 4.5 percent; collective enterprises by 3.1 percent; share-holding enterprises by 10.0 percent and enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan provinces by 7.8 percent.

The services sector advanced by 7.8 percent, with retail sales growing 12 percent. 

Investment in fixed assets advanced by 17.6 percent, below the 20.9 percent expansion in the first quarter of 2013 and exports and imports contracted by 1 percent. 

The value added of the primary industry went up by 3.5 percent. The planting area for rice increased 0.15 percent; wheat went down by 0.56 percent; corn rose by 1.75 percent and cotton fell by 6.77 percent. Total output of pork, beef, mutton and poultry reached rose 2 percent yoy.

Quarter-on-quarter, the GDP expanded 1.4 percent, compared with a revised 1.7 percent pace in the last three months of 2013. 

Chinese GDP Growth Slows in Q1


NBS | Joana Taborda | joana.taborda@tradingeconomics.com
4/16/2014 11:34:37 AM