The current survey for April showed that the Chinese economic outlook has improved by 2.3 points, stated ZEW. The CEP indicator at present is at 17.7 points. This indicator has risen for the third consecutive month. The assessment of the current economic situation has rebounded significantly by 14.3 points and stands at 17.6 points. This is the most positive assessment of the economic situation since July 2013.
Moreover, the point for forecasts have also rebounded. The projection for the second quarter of this year has risen from 6.6 percent to 6.7 percent, whereas the respondents project the Chinese economy to grow 6.6 percent for the whole of 2017. Meanwhile, the respondents expect the economy to expand 6.5 percent next year.
Domestic consumption, which is one of the main growth drivers, is expected to gain from a considerable rise in employment. The financial experts say that foreign trade is also expected to rebound again.
“Given the current forecasts and expectations, we could see the Chinese economy move back into calmer waters with a return to the usual high growth rates,” said Dr. Michael Schröder, Senior Researcher in the ZEW Research Department “International Finance and Financial Management”.
The material has been provided by InstaForex Company – www.instaforex.com
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