Checking elsewhere in the region.Markets have gained in the wake of that Chinese data,the Nikke has added 304 points.The Hang Seng is also gaining ground.

 

And taking a quick check,the Australian dollar is currently lower at 81.8 US cents.

 

Official figures out of China show 2014 was the worst year for Chinese economic growth in more than two decades.Gross domestic product in the world's second largest economy grew by 7.4 percent over 2014.While that would be good growth for most countries.In the Chinese economy,it's the worst result since 1990.Today's GDP number also fell short of the Chinese government's growth target.As officials seek to put the nation's economy on the more sustainable Footing.

 

Meanwhile the International Monetary Fund has become the latest major organization to downgrade its expectations of global economical growth this year.The IMF has downgraded its global growth forecast for both this year and next.It now expects growth of 3.5 percent in 2015 with benefits of cheaper oil offset by other factors, including volatile financial markets.