China reported fourth quarter GDP rose 8.9% from a year earlier. The data beat most analyst expectations of a print of 8.6%. While the data was better than analyst expectations, the results fell short of the GDP growth experienced in the previous quarter. There was a 9.5% growth in the third quarter from a year earlier. The biggest reason cited for the decline in GDP growth was attributed to decline in real estate investment growth. Real estate prices in China, which were bid up by speculators, have cooled and providing for a much needed correction in prices. The correction in real estate prices along with tight credit and a slowdown in Europe are putting the brakes on growth in China. Read more
