2013年9月,我国经济增长开始进入新一轮增长周期波动的缓慢下降期,截止到2015年底此轮周期的谷仍未出现,总体呈现下降时间长、低位运行的态势。本文基于长/短先行合成指数(扩散指数)在本轮景气波动中的特征,以及对2015年主要经济数据的分析,预计我国经济景气波动的谷底将在2016年第1季度出现,从第2季度开始有望止跌企稳,之后大体维持微幅上升的变动趋势。考虑到当前我国经济正处于由高速向中速增长的转换时期,拉动经济回升的主导力量尚未形成规模,经济下行压力依然较大,因此,本文预计2016年全年GDP增长率将达到6。8%左右,CPI为2%左右,PPI仍难以摆脱负增长的局面。这需要政府梳理整合各项政策,聚焦供给侧,重视需求端,长期政策和短期政策协同作战,为2016年经济景气回升提供长效动力。
<<Since September 2013,China’s economic growth has begun to enter a new growth cycle fluctuation of slow decline. But the cycle round valley has notyet been seenby the end of 2015. It shows a overall posture of long declining and low running. On the basis of Long/Short Leading Composite Index(diffusion index)in the current round of climate fluctuation and the analysis of the economic data in 2015,this paper forecast that the bottom of China’s economic fluctuations will occur in the first quarter of 2016,and the fallingtrend will stop from the second quarter,after thatChina’s economy will rise slightly. Given the current economy growth is transforming from high speed to medium speed,the leading force of pulling economic recovery has not yet formed the scale,and the economic downward pressure is still large. Therefore,the full-year GDP growth in 2016is expected to reach 6.8%,and CPI is expected to rise about 2%,and PPI will still keep negative growth. ToProvide long-term motivation for economic recovery in 2016,the government need to integrate policies,focus on the supply side,attach great importance to the demand side.
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