Don't Panic About China's Slowdown, Goldman Says
- Chief country economist Song Yu projects 6.4% growth this year
- Wages, employment and consumption could 'take a hit'
Breaking Down China's January CPI and PPI Data
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China’s growth is poised to decelerate this quarter and the road ahead will be bumpy. But don’t panic, says the most accurate forecaster on the nation’s economy.
Growth will slow to 6.7 percent in the first three months of this year as financial services contributes less to the expansion than a year ago and because policy measures to support growth have tapered off from the last quarter of 2015, says Song Yu, Beijing-based chief China economist at Goldman Sachs Gao Hua Securities Co. and the best overall forecaster of China’s economy according to Bloomberg Rankings for the past two years.