Goldman Sachs, in its report, said China released the August economic growth data this morning, easing from the July data. Industrial value-added, cement output and electricity generation significantly moderated, metal processing and fabrication activities have eased, possibly related to environmental factors. In August, fixed asset investment only grew by 4.8%, being the second weakest month in the recent few years.
Goldman Sachs said China's August economic data may make Chinese policy-makers to keep policies loose to allow economic growth to be maintained before the 19th Party Congress. After the Congress, the policy efforts should be less strong, the broker expected. Goldman Sachs estimated China's economic activities will swing up at least in September, saying that China's 3Q17 GDP is trending towards 6.8% yearly as expected, but it is still possible to achieve 6.9% growth.
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