Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

China Q1 GDP Rises 7.4% On Year

16th Apr 2014 03:05

BEIJING (Alliance News) - China's gross domestic product gained 7.4% on year in the first quarter of 2014, the National Bureau of Statistics said on Wednesday.

That topped expectations for 7.3% following the 7.7% gain in the previous three months.

Among the sub-industries, primary industry added 3.5% on year, while secondary industry jumped 7.3% and tertiary industry climbed 7.8%.

On a seasonally adjusted quarterly basis, GDP added 1.4% - shy of expectations for 1.5% and slowing from 1.8% in the three months prior.

Analysts say the results should please investors, since the Chinese economy appears to be healthier that was feared - but also not so powerful that it would rule out stimulus at a later date.

The government also revealed that industrial production gained 8.8% on year in March - missing forecasts for 9.0% but up from 8.6% in February.

Among the individual components, the mining sector was up 2.9%, while manufacturing jumped 9.9% and utilities gained 5.4%.

For the first quarter, output added 8.7% on year. Mining was up 3.3%, while manufacturing climbed 9.9% and utilities gained 4.5%.

Retail sales climbed 12.2%, beating expectations for 12.1% and up from 11.8% in the previous month.

By region, urban retail sales were up 12.1% and rural retail sales added 12.9%.

For the first quarter, retail sales gained 12.0% on year, with urban sales rising 11.8% and rural sales gaining 12.8%.

Fixed-asset investment climbed an annual 17.6% in the first quarter - missing forecasts for 18.0% and down from 17.9% a month earlier.

By region, investment in the east was up 16.4% on year, while central investment climbed 20.2% and western investment gained 19.1%.

Primary industry investment was up 25.8%, while secondary industry investment gained 14.7% and tertiary industry investment collected 19.6%.

Copyright RTT News/dpa-AFX

FTSE 100 Latest
Value9,427.73
Change-18.70