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HONG KONG, May 8 (Reuters) - The International Monetary Fund (IMF) on Friday said recent economic data from China was "very encouraging" but more data for the months ahead was needed to determine whether the rebound was sustainable.
"In China, we have very encouraging indicators on investment and bank lending, suggesting that the economy is snapping back more vigorously than we previously expected. But the numbers are distorted by the Lunar New Year (holiday) so we need more numbers," Joshua Felman, assistant director of the IMF's Asia and Pacific Department told reporters in Hong Kong on Friday.
The IMF this week forecast China's economy would grow only 6.5 percent this year and 7.5 percent in 2010 -- down from 9 percent growth in 2008 and five years of double-digit growth prior to that -- but Felman said those forecasts could be revised later this year.
The Chinese government has forecast economic expansion at 8 percent this year, which is regarded as the minimum growth rate required to create enough jobs to ward off social unrest.
An official purchasing managers' index report published last week showed manufacturing activity in China rose for a second straight month in April, raising hopes the economy is firmly on a recovery path after slowing sharply in recent months.
Beijing announced a massive 4 trillion yuan ($585 billion) stimulus package late last year. It has urged banks to speed up lending and encouraged domestic consumption to reduce the impact from a slump in exports due to the global financial crisis.
(Reporting by Susan Fenton; Editing by Chris Lewis)