Gold­man sees 2017 growth slow­ing

China Daily (Canada) - - BUSINESS -

Gold­man Sachs ex­pects China to regis­ter lower an­nual growth in 2017 as prop­erty and auto sales are likely to slow down. The bank fore­casts a slight slow­ing in China’s GDP growth to 6.5 per­cent in 2017, from a fore­cast of 6.7 per­cent in 2016. Although Gold­man Sachs only ex­pects a mod­est slow­ing in real es­tate in­vest­ment in 2017, it sees both price and trans­ac­tion growth slow­ing sig­nif­i­cantly, mean­ing a much lower con­tri­bu­tion to China’s GDP growth from the hous­ing sec­tor in 2017. In a re­port to clients, the bank noted auto sales growth may slow sharply to 3 per­cent in 2017, from an es­ti­mated 15 per­cent this year, as the govern­ment is likely to cut tax re­bates for auto pur­chases in half.

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