Asia

Wednesday, October 12, 2011 - 23:03

China Govt Econ: 3Q GDP Seen +9.2%, CPI +5.5%: Press


BEIJING (MNI) - China's economy may have grown by 9.2% y/y during the third quarter, down from the second quarter's 9.5% expansion, a government economist said in remarks published in the official Shanghai Securities News on Thursday.

State Information Center economist Zhu Baoliang also said consumer inflation likely rose 6.2% y/y during the July-September period, up from the second quarter's 5.7% increase,

CPI may rise 5.5% over the year, Zhu said, above the government's official target of around 4% and an implicit goal of within 5%.

Full year GDP will rise by around 9.4% this year, down from the previous year's 10.4%, Zhu said.

Zhu warned against monetary overtightening and said an overly-large appreciation of the yuan could hurt exports and exacerbate capital inflows. He also forecast China will have a trade surplus of $150 billion this year.

The State Information Center is a think tank affiliated with the National Development and Reform Commission.

Price data for September will be released on October 14, while third quarter GDP data is scheduled for release on October 18.

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