(Yicai Global) Nov. 7 -- Confidence in China's economic performance declined in November after remaining positive for four straight months, according to a survey of economists.

The Yicai Chief Economists Confidence Index dropped to 49.9 this month, below the threshold of 50 for the first time since June, according to the findings of a survey of 17 leading economists in China. The figure was 50.3 in October.

The economy is stabilizing and rebounding, but with the recurring outbreaks and complicated international environment, China's economic recovery is still expected to face great pressure in the next month, the economists predicted.

The survey participants' forecast for various economic indicators in October was lower than the official data released for September.

The consumer price index likely jumped 2.4 percent last month from a year earlier, the results of the survey showed. The consumption growth rate and value-added industrial output are expected to have risen 1.7 percent and 5.2 percent, respectively, in the period.

The producer price index was predicted to have declined 1.2 percent in October from a year ago. Fixed asset investment likely climbed 5.9 percent. Imports and exports are expected to have jumped 3.8 percent and 0.1 percent, respectively, in the period.

Other economic indicators were higher than the official data for September. The economists forecast the trade surplus in October would be USD92.6 billion, compared with USD84.7 billion, the official figure released the previous month. Real estate investment fell 8.7 percent in the first nine months from a year ago, recovering from a 12.1 percent drop in the January-August period.

Credit data forecasts for October are also down from September's official data because of seasonal factors.

New loans and social financing are expected to have declined to CNY883.3 billion (USD122.3 billion) and CNY1.58 trillion (USD220 billion) in the period. M2 broad money likely fell to 12 percent.

The 10 economists who gave forecasts for deposit and loan rates and reserve requirement ratio all expect little changes in these three indicators in the coming month.

The average yuan-dollar exchange rate at the end of last month was 7.1768. The economists expect the yuan to depreciate to 7.28 against the US dollar by the end of this month. Their prediction for the exchange rate at the end of the year dropped again to 7.24 compared with 7.11 at the end of last month.

As for the high-level opening-up proposed in the Report of the 20th National Congress, the chief economists believe that the government should navigate through the changing external environment and adhere to the basic state policy of opening up. China should promote a larger and more convenient flow of production factors such as goods, services and talents, push the process of the internationalization of the yuan, and upgrade the quality of trade and investment through a system-based opening.

Editor: Futura Costaglione