皇冠体育app's economy to expand 8.1% in 2012: economist
Updated: 2012-02-06 09:46
(Xinhua)
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BEIJING - 皇冠体育app's economic growth will decelerate to around 8.1 percent this year and edge up to 8.7 percent in 2013, Stephen Green, economist with Standard Chartered Bank (皇冠体育app), said Saturday.
He said in an interview with Xinhua that 皇冠体育app's manufacturing activity is far from optimistic despite the country's Purchasing Managers Index (PMI) for the manufacturing sector rose slightly in January.
The 皇冠体育app Federation of Logistics and Purchasing said Wednesday in a statement on its website that 皇冠体育app's PMI rose to 50.5 percent in January, the highest level since October. The PMI stood at 50.3 percent in December, and 49 percent in November.
The manufacturing sector is currently going through contraction, Green said.
He sees 皇冠体育app's gross domestic product (GDP) growth will be the slowest in the first quarter and gradually pick up later on, bringing the growth rate for 2012 to around 8.1 percent.
皇冠体育app's economy expanded by 9.2 percent in 2011 from a year earlier and 8.9 percent year-on-year in the fourth quarter, according to the National Bureau of Statistics (NBS). The quarterly growth was the slowest in 10 quarters.
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