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8 Dec 2014
China likely to cut 2015 GDP target to 7%
FXStreet (Mumbai) - China’s top leadership, set to meet today to map out economic plans for 2015, is widely expected to cut its 2015 GDP forecast to 7%.
The country is set to miss its growth target for the first time this year since 1999, while the full-year growth may come-in at the weakest in 24 years. As per sources, the think-tank is likely to recommend the government to revise its GDP target to 7% in 2015, down from 7.5% this year.
A sharp slowdown in the export growth, while a collapse in the imports in November released earlier today has already raised concerns that the country may miss its growth target this year. With the next year GDP likely to be revised lower, economists are expecting policy makers in China to come-up with massive stimulus measures.
Meanwhile, the government is also expected to adopt a lower inflation of target of 3% for 2015, from the current target of 3.5%.
The country is set to miss its growth target for the first time this year since 1999, while the full-year growth may come-in at the weakest in 24 years. As per sources, the think-tank is likely to recommend the government to revise its GDP target to 7% in 2015, down from 7.5% this year.
A sharp slowdown in the export growth, while a collapse in the imports in November released earlier today has already raised concerns that the country may miss its growth target this year. With the next year GDP likely to be revised lower, economists are expecting policy makers in China to come-up with massive stimulus measures.
Meanwhile, the government is also expected to adopt a lower inflation of target of 3% for 2015, from the current target of 3.5%.