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China’s 2013 Economic Growth Dodges 14-year Low but May Slow Again

China’s 2013 Economic Growth Dodges 14-year Low but May Slow Again (Reuters)

China’s economy narrowly missed expectations for growth to hit 14-year lows in 2013, though some economists say a cool down will be inevitable this year as officials and investors hunker down for difficult reforms. The chance that the world’s second-largest economy may decelerate in coming months was underscored on Monday by data that showed growth in investment and factory output flagged in the final months of last year. Waning momentum capped China’s annual economic growth at a six-month low of 7.7 percent in the October-December quarter, a slowdown some analysts say may deepen this year as China endures the short-term pain of revamping its growth model for the long-term good. Full-year growth in 2013 was 7.7 percent, steady from 2012 and just slightly above market expectations for a 7.6 percent expansion, which would have been the slowest since 1999.

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