Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Tunisia's Parliament votes on new Government

Read more

MEDIAWATCH

French court rules #burkini ban "clearly illegal"

Read more

THE WORLD THIS WEEK

Biden in Turkey, Colombia Peace Deal, Ethiopia Olympic Protest (part 2)

Read more

THE WORLD THIS WEEK

Earthquake in Italy, French Burkini Ruling (part 1)

Read more

FRANCE IN FOCUS

The hidden secrets of Les Invalides

Read more

FOCUS

Pro-Opposition stronghold Port-Gentil feverishly awaits presidential elections

Read more

ENCORE!

Alexis Michalik: treading the boards in the footsteps of 'Edmond'

Read more

REPORTERS

Getting away with murder in DR Congo

Read more

IN THE PAPERS

'Why does Italy refuse to see the seismic risk?'

Read more

Business

Chinese growth slips to 6.1 percent

Latest update : 2009-04-16

China's annual gross domestic product growth slipped in the first quarter to 6.1 percent from 6.8 percent in the fourth quarter of 2008, marking the weakest growth since quarterly records began in 1992.

AFP - China's economy grew 6.1 percent in the first quarter, the government said Thursday, continuing a startling slowdown for a country that not long ago was seeing double-digit growth rates.
  
The figure released by the National Bureau of Statistics was down from 6.8 percent growth in the fourth quarter of last year, underlining the impact of the global crisis on China's trade-dependent economy.
  
"The national economy is confronted with the pressure of a slowdown," Li Xiaochao, the bureau's spokesman, told reporters.
  
He said problems faced by the world's third-largest economy included a decline in exports, a drop in corporate profits and unemployment.
  
The figure follows nine percent growth for all of 2008, and comes amid concerns that China this year will experience its slowest economic expansion in 19 years.
  
Before the global economic crisis struck, China had experienced double-digit growth from 2003 to 2007.
  
Worldwide economic woes have left China, which last year worried that inflation might be too high, facing deflation.
  
The consumer price index (CPI), China's main gauge of inflation, fell 0.6 percent in the first quarter of 2009 from a year earlier, according to the bureau.
  
In March the CPI was down 1.2 percent from a year ago. Compared with February it fell 0.3 percent, it said.
  
The CPI grew 5.9 percent in 2008 but has weakened significantly in recent months.
  
Urban fixed asset investments rose 28.6 percent in the first quarter, while in March alone the increase was 30.3 percent year-on-year, the bureau said.
  
The figure is a measure of government spending on infrastructure, which got a huge boost in November with a four-trillion-yuan (580-billion-dollar) package aimed at warding off the effects of the global economic crisis.
  
Industrial output expanded 5.1 percent in the first quarter of 2009 from a year earlier, while in March it increased by 8.3 percent, the government said.
  
China's industrial output, which illustrates activity in the nation's millions of factories and workshops, rose 12.9 percent in 2008.

Date created : 2009-04-16

COMMENT(S)