01-17-2022, 02:54 PM
- Fourth-quarter GDP rose by 4% from a year earlier, according to China’s National Bureau of Statistics. Analysts polled by Reuters had expected China to report fourth-quarter GDP growth of 3.6%.
- However, retail sales missed expectations, growing by 1.7% in December from a year ago. Analysts polled by Reuters had predicted a 3.7% increase.
- For the full year, China economists had expected an average of 8.4% growth in 2021, according to financial data provider Wind Information.
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BEIJING — China’s economy grew by 8.1% in 2021 as industrial production rose steadily through the end of the year and offset a drop off in retail sales, according to official data from China’s National Bureau of Statistics released Monday.
Fourth-quarter GDP rose by 4% from a year ago, according to the statistics bureau. That’s faster than the 3.6% increase forecast by a Reuters poll. For the full year, China economists expected an average of 8.4% growth in 2021, according to financial data provider Wind Information.
Industrial production rose by 4.3% in December from a year ago, the bureau said, also beating Reuters’ forecast of 3.6% growth. Notably, auto production grew for the first time since April, up by 3.4% year-on-year in December.
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