Today seems to be shaping up to be a “risk on” kind of day as far as the markets are concerned, following the release of Chinese GDP data for the fourth quarter 2011. The world’s second-largest economy grew by 8.9% in comparison with the same period a year earlier, which was down from 9.1% in the third quarter, though better than the 8.7% increase economists surveyed by Bloomberg had expected.
As reported by the BBC, growth for the full year was 9.2% – down from 10.3% in 2010. Thus the economic slowdown in China continues, though commodities and the stocks of commodity producers are rallying on speculation that this will prompt the People’s Bank of China into easing monetary policy. And despite S&P downgrading the eurozone’s €1 trillion bailout fund from Triple A to AA+ last night, European stock markets have also risen. Read more on www.goldsilverwebsites.com
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