“It all looks pretty robust, I have to say,” Arthur Kroeber, the managing director of Dragonomics, an analytics firm in Beijing, said by telephone. “Export growth has been slowing and we’ll expect that to continue because Europe is just dreadful, and that’s China’s best export market. But even with those kinds of negative factors in the mix, the basic structure of the economy is still O.K.

“Things are slowing. But they’re not falling off a cliff.”

That said, he and most other analysts said that they expected a sharper deceleration in 2012, in part because of the bleak outlook for exports and the scant indication so far that Chinese leaders are making a serious effort to shift their economy from its export base to one driven by domestic consumption.

Improving domestic demand is crucial to stable economic growth, Jing Ulrich, the chairman of China global markets at JPMorgan Chase, said in a report issued on Tuesday.

“The government appears more inclined to support the economy by boosting wages and enacting tax reductions,” the report said. “There is considerable scope to support domestic demand by boosting income growth, and by reducing the tax burden for both companies and individuals.”

Mr. Kroeber said his firm believed that annual growth in 2012 could cool to as little as 8 percent.

Chinese regulators have alternated in the last year between pumping up the economy and deflating it. External factors like the European debt crisis kept export demand unpredictable, and domestic influences like China’s red-hot property markets balked at attempts to control them.