Chinese economy ‘in weak recovery’

<p>Economic growth in China is slower than expected.</p>

The release of official data has shown economic growth in China is slower than predicted.

Annual growth was revealed to have been 7.7 per cent in the first quarter of the year, down from the 7.9 per cent recorded between October and December.

Wei Yao of Societe Generale stated the figures show the economy in China is in a "weak" recovery at the present time, reports BBC News.

"The Chinese economy is showing soft growth momentum in the first quarter," he said.

Analysts had expected levels of growth to be around the eight per cent mark, so the announcement it only reached 7.7 per cent was a surprise to many.

While industrial output rose 8.9 per cent in March from a year earlier, this was down from the ten per cent that was predicted beforehand.

Earlier in the month, China revealed that it has entered into a currency pact with Australia, which came just a short time after it was revealed that a similar deal has been confirmed between China and Brazil.

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