China’s statistics chief says that date released on November 8 about the country’s economic growth will make consumers more confident about growth in the fourth quarter.
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China’s ruling party began a week-long meeting on November 7 to select its fifth generation of leaders at a time when China’s economy is still reeling from a seven-quarter slowdown.
Growth in China has been the weakest since the global economic crisis of 1999 and government policies to curb inflation dampened investor demand.
Industrial output, retail sales, and inflation figures for the first 10 months of the year will be released on Wednesday, November 8.
Expansion of China’s economy is expected to have slowed to 7.7% in 2012 from 9.3% in 2011.
Growth in industrial output will likely have risen for a second consecutive month to 9.4%.
Consumer prices are expected to have risen 1.9% from last year while producer prices likely fell to 2.7% from 3.6%.
Growth in exports likely occurred in October with overseas shipments increasing at a faster pace since June.
The improvements in China’s economy will bode well for the world economy
as well as the US economy.