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China’s Expansion Loses Momentum in Fourth Quarter

China’s economic growth slowed in the fourth quarter as gains in factory output and investment spending eased last month, sapping momentum as a credit clampdown adds pressure on the outlook for this year.

Gross domestic product rose 7.7 percent in the October-December period from a year earlier, the National Bureau of Statistics said today in Beijing, compared with 7.8 percent in the third quarter. Chinese stocks fell to a five-month low even as GDP exceeded the median estimate of analysts in a Bloomberg News survey.