China July CPI growth seen easing to 6.6 pct yr-on-yr - Goldman Sachs
Goldman Sachs said it expects China’s consumer price index growth to ease to 6.6 pct year-on-year in July from 7.1 pct in June, largely due to lower growth in food prices.
China is set to release CPI data on Aug 12.
Other data to be announced next week include the producer price index, which Goldman Sachs expects to inch up to 8.9 pct in July from 8.8 pct the previous month.
Goldman Sachs said its proprietary commodity price index has reached new highs in recent weeks, led by rising coal prices.
Meanwhile, money supply growth is seen moderating in July, with the M2 broad measure of money supply expected to rise 16.8 pct and total loan growth up 14.8 pct. In June, M2 growth was 17.4 pct and loan growth was 15.2 pct.
Industrial production growth is projected to remain flat at 16.0 pct, while fixed-asset investment is likely to soften to 27.0 pct from 29.5 pct in June, Goldman Sachs said.
It added that nominal retail sales growth is expected at 22.5 pct, down from 23.0 pct in June, reflecting lower CPI inflation.
Year-on-year growth in exports is forecast to rebound to 21 pct and imports growth is likely to soften to 29 pct, resulting in a trade surplus of about 23 bln usd, Goldman Sachs said.
Tags: consumer_price_index, inflation, investment