China GDP Outlook Is Strong, Economists Expect10.5% Quarterly Rise – J.R. WU

From the Wall Street Journal:

Economists expect data to be released tomorrow to show China’s economy logged another strong quarterly expansion, despite back-to-back tightening measures aimed at slowing growth in investment and lending.

China’s gross domestic product in the third quarter is likely to have grown 10.5% from the year-earlier period, according to the average forecast of 10 economists.

The forecast gain would be slower than a 11.3% year-to-year growth rate in the second quarter and a 10.9% rise for the first half. In the first quarter, rose 10.3% from a year earlier.

Worried about the possibility of an overheating economy, Chinese authorities have been trying to slow that torrid pace. Two increases in the amount of reserves commercial banks must hold with the central bank took effect in July and August, while interest rates were also raised in August.[Full Text]

China Academy of Social Science predicted next year China’s GDP will grow as much as 10 percent. Click HERE to read a news report from China Times.

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