China's economic growth to moderate further in 2015, '16
(MENAFN) According to new forecasts by UBS, China's economic growth is to moderate further in the upcoming two years as domestic demand is weakening by the property downturn, QNA reported.
China's GDP growth is forecasted to slow to 6.8 percent in 2015 and 6.5 percent in 2016. This slowdown is mainly driven by the ongoing property downturn, chief China economist with UBS.
The property downturn is expected to drag down domestic demand through softer construction, weaker heavy industry production and investment, smaller local government financing and slower income growth.
Official data showed that China's GDP expanded 7.3 percent from a year ago in the third quarter, compared with 7.5 percent in the second quarter and 7.4 percent in the first quarter of this year.
China's GDP growth is forecasted to slow to 6.8 percent in 2015 and 6.5 percent in 2016. This slowdown is mainly driven by the ongoing property downturn, chief China economist with UBS.
The property downturn is expected to drag down domestic demand through softer construction, weaker heavy industry production and investment, smaller local government financing and slower income growth.
Official data showed that China's GDP expanded 7.3 percent from a year ago in the third quarter, compared with 7.5 percent in the second quarter and 7.4 percent in the first quarter of this year.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Comments
No comment