Tags: AS | China | Economy

China's Economic Growth Slows Further

Monday, 16 Jan 2012 09:23 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

BEIJING (AP) — China's economic growth slowed in the final quarter of 2011 to its lowest rate in 2 1/2 years as U.S. and European consumer demand plunged and Beijing fought inflation.

The world's second-largest economy grew by 8.9 percent in the three months ending in December, data showed Tuesday. It was the slowest expansion since the second quarter of 2009, when the economy grew 7.9 percent.

For the full year, the economy grew 9.2 percent, down from 2010's blistering 10.3 percent after communist leaders tightened lending and investment curbs to prevent overheating and inflation.

Hit by an abrupt plunge in Western consumer demand, regulators reversed course in late 2011 and tried to prop up growth by promising more bank lending to help struggling exporters and avert job losses and the threat of unrest.

Also in 2011, China's urban population exceeded the number of rural dwellers for the first time, rising to 51.3 percent of the nation's 1.3 billion people, the National Bureau of Statistics announced.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved