Fri, August 21, 2009
Business > Economy

China's economy to expand 8.5% in Q3: gov't report

2009-08-21 08:41:01 GMT2009-08-21 16:41:01 (Beijing Time)  Xinhua English

BEIJING, Aug. 21 (Xinhua) -- China's economy is expected to rebound robustly in the third quarter, the government's State Information Center (SIC) said in a report on Friday.

Gross domestic product (GDP) would grow 8.5 percent year on year in the third quarter, according to the report.

This figure compared with a year-on-year economic growth of 7.9percent in the second quarter. The global economic downturn drove the country's GDP growth down to 6.1 percent in the first quarter, the lowest quarterly rise since 1999.

The consumer price index (CPI), an important gauge of inflation, would fall 1.3 percent in the third quarter from a year earlier. The producer price index (PPI), which measures inflation at the wholesale level, was expected to drop 7.9 percent year on year, said the report.

The SIC suggested the government stick to a moderately easy monetary policy in the second half to assist economic development.

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