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Goldman Sachs lowers China growth forecast to 10.1%

07-02-2010 15:02 BJT

Goldman Sachs Group Inc lowered its full year 2010 forecast for growth in China's real gross domestic product to 10.1 percent from 11.4 percent, according to a research report today.

Citing China's monetary tightening policies, Goldman economists Yu Song and Helen Qiao wrote that quarter-on-quarter real GDP growth will "slip to 8 percent or below" in the second half of 2010 before rebounding. They left their forecast for full year 2011 GDP growth unchanged at 10 percent.

Goldman also revised down its full year estimate of China's consumer price index inflation for 2010 to 2.4 percent from 3.5 percent. The estimate for 2011 full year inflation was cut to 1.3 percent from 2.8 percent.

"We foresee monthly inflation to moderate significantly from June onwards and there are risks of a short-lived period of deflation in 3Q 2010 especially if policy makers do not relax the policy stance soon," the economists wrote.

Editor:Xiong Qu |Source: China Daily

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