The Chinese economy expanded in its slowest pace in at least 10 quarters, as the moderated demand on the Chinese exports due to the global slowdown in demand was negatively affected the Chinese economic growth.
The Chinese Gross domestic product, the value of all goods and services produced for the final quarter in 2011 recorded a contracted reading of 2.0%, compared with the prior reading of 2.3%.
Also, the annual GDP for the 4th quarter recorded a contracted reading of 8.9%, compared with the prior reading of 9.1%, yet it exceeded expectations of 8.7%, Growth fell below 9 percent for the first time since mid-2009.
On the other hand, the data for the annual industrial production figures for December were released as well, as it rose to 12.8% compared with the prior reading of 12.4, yet it exceeded expectations of 12.3%.
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