The first quarter of 2014 has seen the Chinese economy slow further to 7.4% year-on-year. China’s major trade partners will be looking on anxiously. Despite the National Bureau of Statistics announcing that growth is “Stable and Sound” is a major stimulus on the cards?
First of all the facts:
- China has released its GDP figures for the first quarter. Q1 2014 saw GDP grow by 7.4% year-on-year, a slowdown from Q4 2013’s 7.7% and the lowest rate of growth since Q3 2012;
Real GDP Growth Q1 2010 – Q1 2014
Source: Euromonitor International from National Statistics
Note: Data are non-seasonally adjusted
- Beneath this headline figure, the service sector saw the strongest growth at 7.8% year-on-year;
- Disposable income in both urban and rural areas also saw strong growth in the first quarter with annual real increases of 9.8% and 12.3% respectively.