the United States 's economy grew 7.8 % in seven straight quarters , slightly better than expectations . China 's growth rate had been steadily falling since the fourth quarter of 2010 , when economic output grew 9.8 % . 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 .
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 .