China’s GDP Grows 8.1% in 2021, The Fastest In 10 Years

CNBC: China’s economy grew 8.1% in 2021 compared to a year ago

* Fourth-quarter GDP rose by 4% from a year earlier, according to China’s National Bureau of Statistics. Analysts polled by Reuters had expected China to report fourth-quarter GDP growth of 3.6%.

* However, retail sales missed expectations, growing by 1.7% in December from a year ago. Analysts polled by Reuters had predicted a 3.7% increase.

* For the full year, China economists had expected an average of 8.4% growth in 2021, according to financial data provider Wind Information.

BEIJING — China’s economy grew by 8.1% in 2021 as industrial production rose steadily through the end of the year and offset a drop off in retail sales, according to official data from China’s National Bureau of Statistics released Monday.

Fourth-quarter GDP rose by 4% from a year ago, according to the statistics bureau. That’s faster than the 3.6% increase forecast by a Reuters poll.

For the full year, China economists expected an average of 8.4% growth in 2021, according to financial data provider Wind Information.

Industrial production rose by 4.3% in December from a year ago, the bureau said, also beating Reuters’ forecast of 3.6% growth.

Notably, auto production grew for the first time since April, up by 3.4% year-on-year in December.

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WNU Editor: China is pursuing the same policy it has in the past of cutting its interest rates to devalue its currency in order to spur an increase its exports .... China cuts rates on policy loans for first time since April 2020 (CNBC/Reuters).

The Chinese economy is going to need this support.

The economy is facing a credit/financial crisis with the collapse of China's major real estate development companies, and housing prices that are the back-bone of the Chinese economy are declining for the first time in years.

China’s GDP Grows 8.1% in 2021, The Fastest In 10 Years

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China's economy expanded 8.1% in 2021, but growth is slowing -- CNN

China's economy slowed at end of 2021 amid COVID outbreaks -- DW

China posts 8.1% growth for 2021 but a property downturn and its zero-COVID policy could add pressure -- SKY News