China’s economy grew at a faster pace last year than the government’s official target, according to a CNNMoney survey of economists.
Gross domestic product grew by 7.7% in 2013 over the previous year, according to the survey’s median estimate — stronger than the government’s target of 7.5%. But overall, China’s economy is slowing after recording 7.8% GDP growth in 2012 and 9.3% in 2011.
The economists estimated growth in the final quarter of 2013 slowed to 7.6% following a 7.8% peak in the third quarter. The Chinese government will announce official data on Jan. 20. Looking ahead for 2014, GDP growth is expected to slow to 7.4%, according to the survey.
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