China’s major economic indicators including consumption and investment are expected to show resilient growth in May, according to market analysts.
Li Chao, chief economist with Zheshang Securities, said that the country’s consumption would further pick up in May, led by a spending boom during the five-day May Day holiday.
He expects the consumption growth rate in May to be 12.9 per cent year on year, with further recovery in the future.
Chao said that the investments are also expected to maintain fast growth momentum with data pointing to price hikes of raw materials needed for infrastructure projects.
Lian Ping, chief economist at Zhixin Investment Research Institute, ” I expect the country’s fixed-asset investment in the first five months to grow at around 18 per cent year on year, slightly slower than the growth rate in the first four months due to higher comparison base last May.”
The National Bureau of Statistics would release key economic data including retail sales, fixed-asset investment and industrial output on Wednesday. (Xinhua/NAN)
