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Financial News: China's Q4 GDP Growth Steady At 6.8%

China's Q4 GDP Growth Steady At 6.8%

01/18/2018 - 02:37:00 (RTTNews)

(RTTNews) - China's economy expanded at a steady pace at the end of 2017, data from the National Bureau of Statistics showed Thursday.

Gross domestic product climbed 6.8 percent year-on-year in the fourth quarter, the same pace of growth as seen in the third quarter. The rate was forecast to slow to 6.7 percent.

In 2017, the economy expanded at a faster pace of 6.9 percent after rising 6.7 percent in 2016, and exceeded the government's 2017 target of about 6.5 percent.

Another report showed that industrial production advanced 6.2 percent annually, slightly faster than the 6.1 percent increase seen in November. The rate was forecast to remain unchanged at 6.1 percent.

For the whole year of 2017, industrial production grew 6.6 percent, as expected.

Retail sales growth eased to 9.4 percent in December from 10.2 percent in November. Sales were forecast to climb again by 10.2 percent. In 2017, retail sales logged an annual growth of 10.2 percent.

Fixed asset investment increased at a slower pace of 7.2 percent in 2017.

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