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在线翻译:
szdaily -> Business -> 
Second-quarter GDP growth seen easing to 6.7%
    2018-05-21  08:53    Shenzhen Daily

THE country’s economy will likely expand around 6.7 percent in the second quarter this year, the State Information Center (SIC) said in an article in the China Securities Journal on Saturday.

The forecast was slightly slower than the 6.8-percent expansion posted in the first quarter of the year. The SIC is an official think tank affiliated with the National Development and Reform Commission, the country’s top economic planning agency.

April activity data released last week suggested that the world’s second-largest economy is starting to lose some momentum, as analysts have long predicted, as the government continues a crackdown on riskier types of financing.

While still expanding at a good clip, retail sales and fixed asset investment grew more modestly than expected while property sales fell for the first time in six months in the face of continued government curbs on speculation and rising mortgage rates.

The lone bright spot was a rebound in industrial output.

Despite stronger-than-expected first-quarter growth, economists polled previously still expect a gradual slowdown to around 6.5 percent this year, which is also the government’s target, assuming there are no trade shocks.

The official think tank expects U.S. dollar-denominated exports to grow around 8 percent in the second quarter of the year versus a year earlier and imports to rise about 10 percent.

It forecast consumer inflation of around 2 percent and expected producer price inflation would pick up to about 3.8 percent in the second quarter of the year from a year earlier.

The think tank suggested the government “maintain flexibility in macro economic policy ... to ensure a steady and healthy development of the country’s broader economy.”

In the same article, the SIC said it expects China’s industrial output to grow about 6.6 percent in the April-June period from a year earlier, with fixed-asset investment growth of around 7.2 percent and retail sales seen rising about 10 percent.

China’s statistics bureau said last week that steady economic growth in April made a good foundation for achieving the full-year growth target.

(SD-Agencies)

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