Financial News: China GDP Climbs 5.4% On Year In Q4

China GDP Climbs 5.4% On Year In Q4

01/16/2025 - 21:23:00 (RTTNews)

(RTTNews) - China's gross domestic product expanded 5.4 percent on year in the fourth quarter of 2024, he National Bureau of Statistics said on Friday - exceeding expectations for 5.0 percent and up from 4.6 percent in Q3.

On a seasonally adjusted quarterly basis, GDP rose 1.6 percent, matching forecasts and up from 1.3 percent in the three months prior.

For all of 2024, GDP was up 5.0 percent after gaining 4.8 percent in 2023.

The bureau also said that industrial production climbed 6.2 percent in December, beating forecasts for 5.4 percent, which would have been unchanged from the November reading.

Retail sales improved an annual 3.7 percent, again topping expectations for 3.5 percent and up from 3.0 percent in the previous month.

Fixed asset investment was higher by 3.2 percent on year, shy of expectations for 3.3 percent, which would have been unchanged.

The jobless rate came in at 5.1 percent in December, above forecasts for 5.0 percent, which would have been unchanged from November.

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