Standard Chartered has raised its forecast for China’s gross domestic product (GDP) growth for this year to 7.6 percent from a previous projection of 7.5 percent, Xinhua news agency reported, citing a report released by the lender late Wednesday. The revision came after government data released last week showed GDP growth accelerated to 7.8 percent in the third quarter, up from 7.5 percent in the second. The UK-based bank estimates the world’s second largest economy to expand 7.5 percent year on year in the fourth quarter. Meanwhile, it revised up its inflation forecast for China to 2.7 percent year on year for 2013 from 2.5 percent, with the fourth-quarter average inflation rate seen at 3.1 percent, the report said.
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