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Economists expect China's Q4 GDP growth slow to 9%
By Wang Yanlin |
January 11, 2011, Tuesday
|
Online Edition
Online Edition
CHINA'S economic growth may moderate further to 9 percent in the fourth quarter of 2010 from 9.6 percent in the previous three months, and it will round up the year's rate at about 10 percent, analysts said.
The slowdown was largely due to a higher comparative base and credit tightening to cool inflation.
With stabilizing prices of food, December's Consumer Price Index, the main gauge of inflation, may grow 4.3 percent on an annual basis, retreating from November's 28-month peak of 5.1 percent. The year's inflation may end at 3.3 percent, exceeding the target of 3 percent.
"China's economic performance last year is better than expected," said Zhang Liqun, an analyst at the Development Research Center of the State Council, China's Cabinet. "Faster global recovery has helped China to present such a good performance."
Zhang estimated net exports will contribute 2.5 percentage points to last year's GDP growth, compared with 2009's negative 3.7 percentage points.
In the first three quarters, China's gross domestic product expanded 10.6 percent year-on-year to 26.8 trillion yuan (US$4 trillion), consolidating its position as the world's second largest economy.
The slowdown was largely due to a higher comparative base and credit tightening to cool inflation.
With stabilizing prices of food, December's Consumer Price Index, the main gauge of inflation, may grow 4.3 percent on an annual basis, retreating from November's 28-month peak of 5.1 percent. The year's inflation may end at 3.3 percent, exceeding the target of 3 percent.
"China's economic performance last year is better than expected," said Zhang Liqun, an analyst at the Development Research Center of the State Council, China's Cabinet. "Faster global recovery has helped China to present such a good performance."
Zhang estimated net exports will contribute 2.5 percentage points to last year's GDP growth, compared with 2009's negative 3.7 percentage points.
In the first three quarters, China's gross domestic product expanded 10.6 percent year-on-year to 26.8 trillion yuan (US$4 trillion), consolidating its position as the world's second largest economy.
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