China’s economy expanded by 8.1% in 2021 as industrial production increased steadily through the end of the year and offset a fall in retail sales.
- Fourth-quarter GDP grew by 4% from a year ago. That’s faster than the 3.6% expansion forecasted by a Reuters poll. For the full year, China economists anticipated an average of 8.4% growth in 2021.
- Industrial production expanded by 4.3% in December from a year ago, surpassing Reuters’ forecast of a 3.6% increase. Auto production expanded by 3.4% YoY in December for the first time since April.
- Fixed asset investment for 2021 increased by 4.9%, surpassing expectations for 4.8% growth. Investment in real estate expanded by 4.4%, as infrastructure grew by 0.4%.
- Investment in manufacturing expanded by 13.5% in 2021 from a year ago, largely attributable to a 24.3% YoY increase in special-purpose machinery.
Meanwhile, retail sales missed expectations and grew by only 1.7% in December a year ago.
CSI 300 Index up +0.86%, CNYUSD up +0.09%Source: National Bureau of Statistics of China
