China's economic growth is expected to slow to a near 30-year low of 6.2 pe...
BEIJING - China’s economic growth is expected to slow to a near 30-year low of 6.2 percent this year, a Reuters poll showed on Friday, as sluggish demand at home and abroad weigh on activity despite a flurry of policy support measures.The median forecast was slightly lower than the 6.3 percent economists had predicted in the last poll in January.
Most of the 88 institutions covered in the survey do not expect growth to bottom out until later in the year as looser monetary condition and fiscal stimulus take time to percolate through the economy and revive domestic demand. First-quarter growth was seen cooling to 6.3 percent from a year earlier, the same as in the previous poll, from 6.4 percent in the fourth-quarter of 2018, the weakest pace since the global financial crisis.SUPPORT MEASURES
Investors are hoping for more signs of economic recovery in China to cushion worries about slowing global growth, after the IMF this week downgraded its 2019 world outlook for the third time citing U.S.-China trade tensions. The economists expect the PBOC to keep its benchmark lending rate unchanged at 4.35 percent through at least the end of 2020, the Reuters poll showed.
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