China, growth slows down: GDP +7,7% in the first quarter of 2013

The growth of the Chinese economy slid to +7,7% annually in the first quarter of this year from +7,9% in the fourth quarter of 2012. Analysts were expecting an expansion of +8%. Despite the weak GDP data, real estate investments in China rose by 20,2% annually in the first quarter and income from the sale of real estate properties grew by 61,3%. Furthermore, industrial production grew by 8,9% in March, less than an expected +10% and retail sales rose by 12,6% in March, against an expected 12,5%.