China's GDP growth hits a weaker-than-expected 7.7%

Blame it on weak investment.

According to BBVA, first quarter GDP growth came in at a weaker-than-expected 7.7% y/y (consensus: 8.0% y/y; BBVA: 8.2%), down from 7.9% y/y in Q4 2012 on weak investment.

BBVA attributes the weak Q1 GDP outturn to policy uncertainty that may have dampened investment, along with sluggish domestic demand momentum.

Here's more from BBVA:

In addition, a set of monthly activity indicators for March released today were also below expectations, including industrial production (8.9% y/y vs. consensus: 10.1%) and fixed asset investment (20.9% y/y, ytd vs. consensus: 21.3%), while retail sales growth was in line with expectations (12.6% y/y vs. consensus: 12.6%) and credit growth, released last week, exceeded expectations.

Although downside risks have risen, on balance we believe our 8.0% GDP projection for 2013 remains achievable, given strong credit growth and still-low inflation (2.1% y/y in March).

The latter should provide room for policies to remain simulative as the authorities balance support for the economy against risks of domestic financial fragilities.

Also Read

Singapore ranks second in global economic freedom

Economists forecast modest NODX growth for Singapore in 2024

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit