(MENAFN- Qatar News Agency) Based on China's macroeconomic data for November, Bank of America (BOA) Merrill Lynch has raised its forecast for China's GDP growth in the fourth quarter of 2013 to 7.8 percent from its previous 7.7 percent.
China's November activity data came in with faster retail sales growth, slower fixed asset investment growth and softer industrial production growth, reported Xinhua news agency
The moderation of industrial production growth to 10 percent in November, from 10.3 percent in October, "was mainly a result of a high comparison base thanks to the strong rebound at the end of 2012", said BOA Merrill Lynch's chief China economist Lu Ting in the financial institution's latest report
For the full year of 2013, BOA Merrill Lynch maintained its GDP growth forecast for China at 7.7 percent.
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