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China Q1 GDP Growth Slows More Than Expected

The Chinese economy slowed more than expected in the first quarter, data from the National Bureau of Statistics showed Friday.

The gross domestic product expanded 8.1 percent year-on-year in the first three months of 2012, slower than the fourth quarter's 8.9 percent increase. Economists were looking for a growth slowdown to 8.4 percent.

Separately, the statistical office reported that the industrial production grew 11.9 percent year-on-year in March, compared with expectations for a 11.5 percent expansion.

Retail sales increased 15.2 percent annually in March while expectations were for a 14.8 percent rise.

Urban fixed asset investment expanded 20.9 percent during the three months ended March, slightly slower than the 21 percent increase forecast.

by RTTNews Staff Writer

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