China's better-than-expected first quarter GDP growth is spurring economists at Citi, Barclays and ING to raise their growth forecasts for this year, though other analysts are holding off for now.
China's better-than-expected first quarter economic growth has spurred some investment banks to raise their growth forecasts for this year.
By comparison, China's economy grew by 6.4 percent year-on-year in the fourth quarter of last year, and 6.8 percent in the first quarter of 2018. Economists at Barclays raised their expectation for GDP expansion for this year to 6.5 percent from the previous 6.2 percent, citing the surprise first-quarter growth result.
"Our new baseline scenario is that a framework trade deal between the U.S. and China will be reached in and it will lift most, if not all, existing punitive tariffs," economists at the U.S. bank wrote. China is officially targeting growth of between 6.0 percent to 6.5 percent this year. And while its quarterly GDP data is widely watched as the key barometer for the state of the economy, experts have long questioned its accuracy.For instance, economist Christopher Balding — a professor at Fulbright University Vietnam — said he's looking at business electricity consumption, which shrank despite the official report that the economy grew.
"Nothing is rosy," he said Thursday on CNBC's"Squawk Box," adding that"China is on a structural slowdown path. But stable growth and perhaps a little bit of upside, I think, is real, not just a one-off."
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
Asia Pacific stocks poised for mixed open ahead of China GDP releaseChina is set to report its GDP figures for its first quarter later at 10:00 a.m. HK/SIN today.
और पढो »
China first quarter GDP growth set to slow to 6.3 percent, more policy support neededChina is expected to report on Wednesday that economic growth slowed to its weak...
और पढो »
China first quarter GDP growth steady at 6.4 percent year-on-year, beats expectations for slowdownChina's economy grew at a steady 6.4 percent pace in the first quarter from...
और पढो »
China GDP surprise; PepsiCo reports; EU strikes backToday’s business headlines with ChristineRomans before the opening bell on Wall Street: - Dow close to record highs - White House still supports Cain and Moore - Netflix adds record number of subscribers - Fake reviews boost tech products on Amazon
और पढो »
No-frills no longer: GM's China brand Baojun attempts a major makeoverBy many measures, General Motors' China brand Baojun has been an exceptiona...
और पढो »
Major currencies tread water ahead of euro zone, China dataMajor currencies remained confined to well-trodden ranges on Tuesday, as markets...
और पढो »
Dollar up as key global data awaited, Australia hit by RBA's dovish toneThe dollar edged up against a basket of its key rivals on Tuesday with investors...
और पढो »
Alibaba's South China Morning Post readies its US push as it hunts for 'China-curious' readersThe Hong Kong-based publication believes that the time is right for its US expansion, with China-US trade talks and interest in them heating up.
और पढो »
Justin Wolfers explains how GDP can be improvedUniversity of Michigan economist Justin Wolfers explains how GDP doesn't take into account things like the distribution of wealth, crime, domestic work that isn't paid for, or environmental consequences, among other things.
और पढो »
China first quarter GDP growth seen cooling to 6.3 percent, but March may suggest rebound: Reuters pollChina's first-quarter economy growth likely cooled to the weakest pace in a...
और पढो »