The Chinese economy grew at a slower-than-expected 8.1% pace in the first quarter compared to the year-earlier quarter, down from the fourth quarter 2011 growth rate of 8.9%. The growth rate looks less flattering on a quarter-over-quarter basis, up 7.4%, compared to the fourth quarter’s 7.8% pace and below the government’s 7.5% target. Thursday’s rumors of a 9% GDP print appear to have been just that.
The economy’s growth pace is mildly disappointing, though no one will consider it as evidence of a hard landing for the Chinese economy. But the market will likely give back some of its Thursday gains that were inspired by the 9% GDP growth rumor.
For more: Between U.S. & Chinese Fortunes - Zacks.com
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