CHINA: OECD cuts ChinaÃ¢â‚¬™s growth figure again
The Organisation for Economic Cooperation and Development (OECD) will cut its 2009 economic growth projection for China to below 6.5 per cent, the Wall Street Journal reported. The OECDÃ¢â‚¬™s previous forecast, made in November, was 8 per cent, but Richard Herd, the organisationÃ¢â‚¬™s chief economist, said it was unlikely China will achievethis goal. Last week, […]
April 1, 2009
Last week, the World Bank revised its projection for ChinaÃ¢â‚¬™s GDP growth to 6.5 per cent from 7.5 per cent. Herd said the OECDÃ¢â‚¬™s revised figure, which is to be issued in a report at the end of March, would be lower than the World BankÃ¢â‚¬™s projection. According to the OECD, China is likely to see 6.3 per cent growth in the first quarter, down from 6.8 per cent in the fourth quarter of 2008. Growth may reach 8 per cent in the fourth quarter of 2009.