China's gross domestic product growth slowed to 8.9% in the last quarter of 2011, compared with a year earlier, showing that the world's fastest engine of growth is downshifting.
While China's fourth-quarter performance would be the envy of most any other nation—and surprised analysts who had expected a sharper decline—it is still modest by the measure of the past 30 years. China's gross domestic product has soared by an average of 10% a year in that period.
When measured on a quarter-on-quarter basis, China's growth fell much more rapidly to 8.2%, reflecting slower growth in exports and weaknesses in the country's property market. Late last week, J.P. Morgan forecast that GDP growth will decline further in the current quarter, to 7.2% compared with the fourth quarter of 2011.
http://online.wsj.com/article/SB10001424052970204555904577165593145006650.html
While China's fourth-quarter performance would be the envy of most any other nation—and surprised analysts who had expected a sharper decline—it is still modest by the measure of the past 30 years. China's gross domestic product has soared by an average of 10% a year in that period.
When measured on a quarter-on-quarter basis, China's growth fell much more rapidly to 8.2%, reflecting slower growth in exports and weaknesses in the country's property market. Late last week, J.P. Morgan forecast that GDP growth will decline further in the current quarter, to 7.2% compared with the fourth quarter of 2011.
http://online.wsj.com/article/SB10001424052970204555904577165593145006650.html
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