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China's economy to grow 2.5 pct this year: Bloomberg report

2020-7-28 12:08

 

A worker works at a factory of Northern Heavy Industry Group Co., Ltd. in Shenyang, northeast China's Liaoning Province, Feb. 10, 2020. (Xinhua/Yang Qing)

BEIJING, July 27 (Xinhua) -- China's economy will grow 2.5 percent this year, Bloomberg News has reported, citing the UBS Group AG that raised its forecast from 1.5 percent due to the recovery in domestic consumption and strong investment.

Chinese economy will expand 5.5 percent this quarter from a year earlier, and 6 percent in the final three months of 2020, Bloomberg quoted the bank's chief China economist Wang Tao and others as saying.

Aerial photo taken on July 15, 2020 shows a freighter loading cargo to be exported at a container port in Quanzhou, southeast China's Fujian Province. (Xinhua/Song Weiwei)

The surprising strength of Chinese exports in the second quarter prompted the economists to increase their estimate for trade in the rest of the year, and they also revised up the inflation forecast to 2.5 percent for 2020 from 2.4 percent earlier, the report said.

The property sector is expected to show more resilience, thanks to the economic recovery and effects of easier credit, said the report, noting that Oxford Economics also upgraded its full-year GDP forecast to 2.5 percent from 2 percent on a strong rebound in the second quarter.

Citing a survey of 67 economists, Bloomberg said in another recent report that, China's growth in the current quarter will be 5.2 percent from a year ago, faster than the 3.2-percent expansion in the three months to June.

The Chinese economy returned to growth in the second quarter, marking an important milestone in the global struggle to recover from the virus shutdowns, the report said.

Solid inbuilt momentum in the domestic economy, coupled with external tailwinds from recovering global demand, are setting the stage for a further growth acceleration in the second half of the year, Aidan Yao, senior economist at AXA Investment Managers in the survey, was quoted as saying.

 

2020年2月10日,中国东北辽宁省沈阳市,一名工人在北方重工集团有限公司的工厂里工作。(新华社/杨清)


北京,7月27日(新华社)——彭博新闻社援引瑞士银行集团(UBS Group AG)的报告称,由于国内消费的复苏和强劲的投资,中国经济今年将增长2.5%。


彭博社援引该行首席中国经济学家汪涛和其他人士的话说,中国经济本季度将比去年同期增长5.5%,2020年最后三个月将增长6%。

 

报告称,中国第二季度出人意料的强劲出口促使经济学家提高了对今年剩余时间的贸易预期,他们还将2020年的通胀预期从此前的2.4%上调至2.5%。


报告称,由于经济复苏和信贷宽松的影响,房地产行业预计将显示出更强的韧性,并指出,牛津经济也将全年GDP预估从2%上调至2.5%,因第二季强劲反弹。


彭博援引对67位经济学家的调查,在最近的另一份报告中称,中国本季度的经济增长率将为5.2%,高于截至6月的三个月3.2%的增速。


报告称,中国经济在第二季度恢复增长,这是全球努力从病毒关闭中恢复的一个重要里程碑。


接受调查的安盛投资管理公司(AXA Investment Managers)高级经济学家姚艾丹(Aidan Yao)表示,中国国内经济的强劲内在动力,加上全球需求复苏带来的外部因素,为今年下半年经济进一步加速增长奠定了基础。

 

来自: xinhua