BUSINESS

CICC says Q1 GDP growth might hit 6.9%

China's GDP growth is likely to accelerate to 6.9 percent in the first quarter of the year following a pickup in industrial activity and improving domestic demand, according to a Chinese investment bank. China International Capital Corp said in a research report that GDP growth could quicken from the 6.8 percent reported in the fourth quarter of 2016. CICC expects China's retail sales of consumer goods to increase 10.2 percent year-on-year in March, accelerating from the 9.5 percent rise registered for January-February. Industrial output growth might slow slightly from 6.3 percent in the first two months of the year to 6.1 percent in March, because of a higher comparative base from last year, according to CICC.

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