(Yicai) Dec. 10 -- A gauge of sentiment in China’s economy compiled by Yicai remained above the boom-bust line for the third straight month in December, following a raft of government measures to support the economy and in anticipation of more to come.

The Yicai Chief Economists Confidence Index came in at 50.72 for this month, according to the findings of a survey of 13 leading China-based chief economists. The index was 50.78 in November and 50.62 in October, after having plunged to the lowest in 20 months in September.

The economists anticipate the government’s upcoming Central Economic Work Conference, where economic policy is set for the year ahead, will maintain a steady growth posture, with expectations for further policy easing next year.

The survey was carried out before China’s top leadership shifted the country’s monetary policy stance yesterday from the “prudent” course taken since 2011 to “moderately loose” at a meeting of the government’s top decision-making body. The Political Bureau of the Communist Party of China Central Committee also vowed a “more proactive” fiscal policy next year.

The work conference may propose a further expansion of fiscal policy, such as increasing the deficit ratio and issuing local government special bonds, to tackle the downward pressure on the economy, according to Chen Xing, chief economist at Caitong Securities.

Chen added that the work conference is also expected to commit additional funding for education, healthcare, and elderly care, continue support for local governments in addressing their debt issues, go on stabilizing the real estate market, and put more emphasis on technological innovation and industrial upgrading.

The conference, held in mid-December every year, reviews the achievements and experiences of the past year’s economic work and sets tasks for the next 12 months. It is the most authoritative weathervane for assessing economic conditions and setting the tone for the coming year’s policies.

Retail sales of consumer goods probably rose 5.3 percent last month from a year earlier, versus a 4.8 percent increase the month before, according to the economists. Industrial value added is expected to have risen 5.3 percent, almost unchanged from October.

The average forecast for fixed asset investment growth for the first 11 months of the year was 3.45 percent, slightly higher than the 3.4 percent increase for first ten months. Real estate investment likely fell 10.24 percent in the year to Nov. 30, better than the 10.3 percent drop in first 10 months.

The National Bureau of Statistics is scheduled to publish November’s economic data on Dec. 15.

The chief economists generally do not expect the central bank to cut the benchmark loan price rate this month, though it may lower the reserve requirement ratio for big financial institutions.

Editor: Futura Costaglione