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Financial News: China GDP Spiked 6.5% On Year In Q4

China GDP Spiked 6.5% On Year In Q4

01/17/2021 - 21:15:00 (RTTNews)

(RTTNews) - China's gross domestic product climbed 6.5 percent on year in the fourth quarter of 2020, the National Bureau of Statistics said on Monday - exceeding expectations for an increase of 6.1 percent and up from 4.9 percent in the three months prior.

On a seasonally adjusted quarterly basis, GDP expanded 2.6 percent - shy of expectations for a gain of 3.2 percent and slowing from 2.7 percent in Q3.

The bureau also said that industrial production jumped 7.3 percent on year in December, beating forecasts for 6.9 percent and up from 7.0 percent in November.

Retail sales gained an annual 4.6 percent last month, missing expectations for 5.5 percent and down from 6.0 percent in the previous month.

Fixed asset investment gained 2.9 percent year to date in December, missing expectations for 3.2 percent but still up from 2.6 percent in November.

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