China's GDP growth to 7.6%: Standard Chartered

Updated: 2013-10-24 13:36


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BEIJING -- China's gross domestic product (GDP) growth forecast has been raised to 7.6 percent from 7.5 percent for 2013, according to a latest Standard Chartered research report.

The report, released late Wednesday, also forecast GDP growth for the fourth quarter of 2013 to reach 7.5 percent year on year.

The revision came after government data released last week showed GDP growth accelerated to 7.8 percent in the third quarter, up from 7.5 percent in the second, with the economy expanding 7.7 percent in the first nine months of the year.

Meanwhile, Standard Chartered revised up its inflation forecast for China to 2.7 percent year on year for 2013 from 2.5 percent. It also forecast an average inflation rate of 3.1 percent in the fourth quarter.

Government data showed the country's consumer price index, a main gauge of inflation, stood at an average 2.5 percent in the first nine months, which was well below the government's full-year target of 3.5 percent.