Export and manufacturing sectors have been one of the biggest drivers of China's economic growth
13 April 2012
China's economy, the world's second-largest, has expanded at its slowest pace in almost three years.
Gross domestic product increased by an annual rate of 8.1% in the first quarter, down from 8.9% in the previous three months.
That is less than many analysts had forecast with most of them expecting a figure closer to 8.3%.
China has been hit by a drop in demand in key markets including the US and Europe.
At the same time domestic demand has proved tough to stimulate.
"We are slightly disappointed. The main downside was with exports and some in terms of consumption," said Kevin Lai of Daiwa Capital Markets.
On Thursday, the World Bank warned that China's economy may slow further in the coming months.
"China's gradual slowdown is expected to continue into 2012, as consumption growth slows somewhat, investment growth decelerates more pronouncedly and external demand remains weak," said Ardo Hansson, the World Bank's lead economist for China.
