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KUALA LUMPUR Authentic Jordan Akins Jersey , July 24 (Xinhua) -- The International Monetary Fund (IMF) on Monday revised up China's growth forecast for 2017 and 2018 to 6.7 percent and 6.4 percent respectively.


The updated World Economic Outlook report, which came days after China posted a stronger-than-expected second quarterly performance, was a reflection of a solid first quarter underpinned by previous policy easing and supply-side reforms, including efforts to reduce excess capacity in the industrial sector, the IMF said.


China has set its full-year growth target at "around 6.5 percent." The 6.7-percent forecast will leave the world's second-largest economy on a par with its growth level in 2016.


The fund also revised up China's economic forecast for 2018 by 0.2 percentage point to 6.4 percent Authentic Martinas Rankin Jersey , citing expectations that China may maintain high public investment and delay fiscal adjustment to meet its target of doubling the 2010 real gross domestic product (GDP) by 2020.


But the IMF also warned against strong credit growth that may come with rising downside risk to medium-term growth.


Maurice Obstfeld, chief economist of the IMF, recommended China go through a very important rebalancing process, which will inevitably entail a slowing path of growth.


He said China's recent moves to redress non-performing loans and a coordinated financial oversight overhaul are welcome.


The revision followed an April upgrade by the IMF on China's GDP growth forecast to 6.6 percent and 6.2 percent for 2017 and 2018 respectively, 0.1 percentage point and 0.2 percentage point higher than its forecast in January.


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WASHINGTON, June 29 (Xinhua) -- U.S. real gross domestic product (GDP) increased at an annual rate of 1.4 percent in the first quarter of 2017, said the U.S. Commerce Department on Thursday, but it was still the worst performance since the second quarter of last year.


The growth rate was revised up from two previous gauges of 1.2 percent and 0.7 percent, according to the final assessment of the economy for the period issued by the Commerce Department.


The higher growth rate was mostly driven by unexpectedly higher consumer spending and a hike in exports.


Consumer spending Authentic Benardrick McKinney Jersey , which accounts for two-thirds of the U.S. economic activities, increased by 1.1 percent in the first quarter, almost double the 0.6 percent last month, but remains the weakest reading since the second quarter of 2013.


U.S. exports growth rate for the period was also revised up to 7.0 percent from an earlier 5.8 percent.


Despite the upward revision to GDP, U.S. economic performance was still lackluster compared with other developed economies. The economic growth rate of the United States in the first quarter was only higher than that of Britain and Japan among G7 countries.


Also Authentic Kevin Johnson Jersey , in recent years the U.S. economy has tended to underperform in the first quarter relative to the rest of the year due to statistical issues. The government has said it is working to resolve those issues.


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