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Chinese economy rebounds in fourth quarter
China’s economy showed signs of a rebound in the final quarter of 2012, as it pulled out of a financial crisis that produced the slowest year of economic growth since 1999.
The economy expanded by a higher-than-forecast 7.9 per cent year on year in the fourth quarter, from 7.4 per cent in the previous quarter.
A recovery of exports, stronger than expected industrial output and retail sales, together with robust fixed asset investment, all boosted the figures.
However, the official statistical office reported this morning that GDP ticked up by 7.8 per cent in 2012, down from 9.3 per cent in 2011 and marking the slowest annual rate of growth since 1999.