(Yicai) July 10 -- China’s economy may have grown by just over 5 percent in the second quarter, a moderately slower pace than in the first three months of the year, according to chief economists polled by Yicai.

The average forecast is for a 5.03 percent growth in gross domestic product in the three months ended June 30 from a year earlier, with the highest projection at 5.4 percent and the lowest one at 4.6 percent, the survey of 16 leading economists in China showed.

The GDP grew by a better-than-expected 5.3 percent to CNY29.63 trillion (USD4.07 trillion) in the first quarter from the same period last year, according to official data.

China’s GDP may grow slower in the second quarter compared with the previous one, mainly because weak domestic demand led to a slowdown in consumption growth, which contributed less to the economy as a result, said Lian Ping, head of the research institute under Guangzhou Development Zone Financial Holding Group and the China Chief Economist Forum.

Real estate investment continued to drag down the GDP in the second quarter, even though manufacturing and infrastructure investment jointly promoted stable growth, Lian noted, adding that the contribution of exports to the GDP is expected to have increased thanks to a better-than-expected performance.

The National Bureau of Statistics is scheduled to publish major macroeconomic data, including GDP, investments, and retail sales of consumer goods, for the second quarter and the first half of the year on July 15.

The Yicai Chief Economists Confidence Index remained unchanged at 50.23 In July from June, staying above the key 50 level. The 16 chief economists polled by Yicai believe more policies to stabilize growth, demand, and confidence should be introduced to support the economic recovery.

Editors: Tang Shihua, Futura Costaglione