the United States 's economy grew 7.8 % in seven straight quarters , slightly better than expectations . The world 's second largest economy grew 7.8 % for the year in 2012 . Fourth quarter growth rate bucked the year in 2012 of declines .
China 's economy grew 7.9 % in the fourth quarter , slightly better than expectations . The world 's second largest economy grew 7.8 % for the year in 2012 . Fourth quarter growth rate bucked seven straight quarters of declines .