Goldman sees 2017 growth slowing
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.