Asia Pacific: Economic overview
China’s strong economic growth in Q2 will support an improved outlook in 2017 as a whole.
China’s GDP is expected to rise by 6.7% on an annual basis in 2017, according to the latest outlook from the International Monetary Fund (IMF). The strong growth achieved in Q2 will support the country’s economic expansion for the year. GDP rose by 6.9% on an annual basis in Q2, equal to the growth seen in Q1 and higher than that achieved in Q2 last year. Economic growth is expected to be around 6.4% in 2018 and 2019, according to the IMF. Although the outlook for the year has been revised upwards, risks to growth from increasing public and private debt could weigh on economic expansion in the medium term. China’s strong performance this year has helped boost gas consumption, which is expected to rise by around 13% on an annual basis in 2017.