PBOC researchers forecast 6.8% GDP growth in 2016

The research bureau of the People’s Bank of China has forecast national economic growth of 6.8% for 2016, Bloomberg reported, citing a working paper posted to the central bank’s website. The economists also cut their 2015 growth forecast to 6.9% from 7%, and predicted consumer prices would rise 1.7%, up from 1.5% this year. In contrast to another report released on Wednesday by the Chinese Academy of Social Sciences, the PBOC researchers forecast an acceleration of fixed-asset investment next year and an increase in exports following a decline this year. The academy had also forecast growth would slow more drastically to between 6.6-6.8% in 2016.