China’s leading financial institutions forecast robust GDP growth for the first quarter of 2018 in the lead up to the release of official data.
While official Q1 economic data is scheduled for release on 17 April, People’s Bank of China Yi Gang has already revealed that the results are “slightly better than expectations.”
A slew of China’s leading financial institutions, including Bank of Communications, Industrial Bank Co., and the China Logistics Information Center all anticipate Q1 GDP growth of around 6.8%.
Others are even more optimistic, with the China Academy of Social Sciences and the Bank of China International Financial Research Institute seeing growth of 6.9% in the first quarter.
International organisations are also upbeat about China’s 2018 growth prospects, with the World Bank upgrading its GDP forecast for the year to 6.5% from 6.4% on 12 April, and the Asia Development Bank releasing a report on 11 April forecasting full year growth of 6.6%.