Chinese GDP up 7.8pc in 2012, snaps losing streak

The Chinese economy expanded 7.8 per cent last year, the government said on Friday, as annual growth slowed for a second straight year in the face of weakness at home and in key overseas markets.

But gross domestic product grew 7.9 per cent in the final three months of last year, the National Bureau of Statistics said, as the world’s second-largest economy snapped seven straight quarters of slowing growth.

Separately, China’s retail sales rose 14.3 per cent last year from the year before, it said.

via Business feed http://www.scmp.com/business/economy/article/1130815/chinese-gdp-78pc-2012-snaps-losing-streak