Chinese GDP in 2021 and Economic Indicators Grew Faster Than Expected

Chinese economy grew by 8.1% in 2021, faster than forecasted 8.0%, according to the official data from China’s National Bureau of Statistics as of Monday morning.

The country’s fourth quarter GDP rose by 4% for the same period a year earlier. The data broke forecasts of 3.6% by Reuters poll.

Chinese economy grew strongly in 2021 as economic activity picked up from pandemic induced slump in 2022. Authorities have pledged additional support to the economy which still faces multiple headwinds in 2022.

Industrial output grew 4.3% in December from a year earlier, picking up from a 3.8% increase in November, official data showed. The data beat forecasts of Reuters Poll of 3.6% increase.

Retail sales in December rose 1.7%  from a year earlier, the slowest pace since August 2020. Reuters poll had expected them to grow 3.7% after rising 3.9% in November.

Fixed asset investment rose 4.9% in 2021.