FXStreet (Barcelona) – Research Analysts at Nomura, trim down their export and import forecasts for China and maintain their Q2 GDP growth forecast of 6.6%yoy in Q2.
Key Quotes
“Export growth improved slightly to -2.5%, better than market and our expectations but still weak. Import growth softened to -17.6%, weaker than expectations, resulting in an unexpected surge in trade surplus.”
“We trim down export and import growth forecasts for 2015 but keep our annual GDP forecast at 6.8% and maintain the view that GDP growth will slow to 6.6% y-o-y in Q2 from 7.0% in Q1.”
“We maintain our forecast that industrial production growth will remain at 5.9% y-o-y and that investment and consumption growth may dip in May”
“We continue to expect further monetary policy easing, with two more benchmark rates and two more reserve requirement ratio (RRR) cuts this year.”
(Market News Provided by FXstreet)