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Chinese economic growth likely to have slowed in Q4 – DBS Bank

The Chinese economic growth is likely to have decelerated in the final quarter of 2017. According to a DBS Bank research report, the real GDP growth is expected to have slowed to 6.7 percent year-on-year in the December quarter from 6.8 percent seen in the prior quarter. Domestic demand continued to be strong in the fourth quarter.

Retail sales are likely to have sustained double-digit growth, owing to the buoyant consumer confidence. On the investment front, fixed asset investment is expected to have slowed further to 6.8 percent in December in the midst of a People’s Bank of China (PBoC) rate hike, stated DBS Bank.

Mirroring the moderated National Bureau of Statistics’ (NBS) manufacturing PMI, industrial production would drift down to 5.9 percent because of ongoing cuts in overcapacity. These are healthy developments amidst deleveraging. In the meantime the trade figures released recently showed a strong export performance.

“All these should render support to the development of Goldilocks Chinese economy in 2017, which will likely conclude the year with 6.8% real GDP growth”, added DBS Bank.

At 16:00 GMT the FxWirePro's Hourly Strength Index of Chinese Yuan was neutral -47.4874, while the FxWirePro's Hourly Strength Index of US Dollar was highly bearish at -123.535. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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