China 3Q growth expected at 11.4 percent

BEIJING, Aug. 10 (UPI) -- China’s economy is forecast to enjoy double-digit growth of 11.4 percent in the third quarter, a state think tank said Friday.

The forecast by the State Information Center, a unit of the country’s top economic planner, is slightly less than the 11.9 percent growth achieved in the second quarter.

The center also expects inflation to be about 4.3 percent in the third quarter, up from 3.2 percent in the first half of the year.

The China Daily reported the center attributed the expected economic slowdown to tighter monetary policy, government efforts to curb high-polluting, high-energy consuming industries, cuts in export rebates and the tightening of processing trade exports.

Third quarter exports are forecast to be down 0.9 percent from the first half, while imports are forecast to be up 0.5 percent. Third quarter trade surplus is forecast to reach $77.1 billion, boosting the total for the first nine months to $189.6 billion, up 72.7 percent from the same period last year.