China’s economy is still slowing down, hitting its lowest growth rate in almost three years, with the first-quarter rate prompting fears that additional government intervention might be necessary to halt its downward slide.
Reuters reported Friday on data from the National Bureau of Statistics, which indicated that the annual rate of growth for China’s GDP had fallen in the first quarter to 8.1% from 8.9% in the previous quarter. Economists had expected a rate of 8.3%.
Other data released Friday showed an expansion of industrial output for March of 11.9%, an increase of retail sales for the month of 15.2%, and a boost of 20.9% in quarterly fixed-asset investment.