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Quarter's GDP growth forecast to hit 12%
By Wang Yanlin |
April 6, 2010, Tuesday
|
Online Edition
Online Edition
CHINA'S gross domestic product for the first quarter of this year may have grown up to 12 percent from a year earlier, better than an increase of 10.7 percent in the fourth quarter of 2009, analysts said today.
Along with the GDP figure, other key economic data for March due to be released next week will also showcase fast growth because of China's solid recovery and the low comparative base.
"March economic data, which is the first set this year free of the Lunar New Year distortions, will be instrumental in assessing whether the ongoing rebound is robust and balanced, or overheated and excessive," said Wang Qing, an economist at Morgan Stanley. "They are essential to form valuable input to policy action in the immediate term."
The Purchasing Managers' Index, a harbinger of the country's manufacturing activities and exports of industrial goods, climbed to 55.1 in March from 52 a month earlier, indicating robust growth in the manufacturing sector.
Li Maoyu, an analyst at Changjiang Securities Co, said a GDP rise of 12 percent is very likely in the first three months of this year, and consumer prices, a main gauge of inflation, may ease a bit in March, reducing the possibility of an immediate interest rate increase.
Along with the GDP figure, other key economic data for March due to be released next week will also showcase fast growth because of China's solid recovery and the low comparative base.
"March economic data, which is the first set this year free of the Lunar New Year distortions, will be instrumental in assessing whether the ongoing rebound is robust and balanced, or overheated and excessive," said Wang Qing, an economist at Morgan Stanley. "They are essential to form valuable input to policy action in the immediate term."
The Purchasing Managers' Index, a harbinger of the country's manufacturing activities and exports of industrial goods, climbed to 55.1 in March from 52 a month earlier, indicating robust growth in the manufacturing sector.
Li Maoyu, an analyst at Changjiang Securities Co, said a GDP rise of 12 percent is very likely in the first three months of this year, and consumer prices, a main gauge of inflation, may ease a bit in March, reducing the possibility of an immediate interest rate increase.
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