23 Feb 2015
Upside revision for China’s GDP forecast - NAB
FXStreet (Barcelona) - Gerard Burg, Senior Economist at National Australia Bank, notes that weaker oil prices could benefit China’s growth, and further revises the GDP forecast for 2015 and 2016 to 7.1% and 6.9% respectively.
Key Quotes
“Global factors could influence the economic outlook for China in 2015 – particularly weaker oil prices.”
“…we’ve modestly revised up our forecast for Chinese growth – to 7.1% in 2015 and 6.9% in 2016 (from 7.0% and 6.8% previously).”
“While economic modelling indicates that our forecast oil price could provide a stronger boost for China’s growth, we expect that Chinese authorities will take advantage of the oil price stimulus to lower public investment and continue the process of cleaning up shadow banking (and with it credit growth more generally).”
Key Quotes
“Global factors could influence the economic outlook for China in 2015 – particularly weaker oil prices.”
“…we’ve modestly revised up our forecast for Chinese growth – to 7.1% in 2015 and 6.9% in 2016 (from 7.0% and 6.8% previously).”
“While economic modelling indicates that our forecast oil price could provide a stronger boost for China’s growth, we expect that Chinese authorities will take advantage of the oil price stimulus to lower public investment and continue the process of cleaning up shadow banking (and with it credit growth more generally).”