OECD Raises China Growth Forecast to 7.7%

24/06/2009 § Leave a comment

 

China’s economy will grow 7.7 percent from a year earlier, up from a 6.3 percent forecast in March, the Paris-based group said in a report today. Gross domestic product will climb 9.3 percent next year, up from an 8.5 percent estimate, it said.

“In the last two to three months China has turned its economy around,” said David Cohen, an economist with Action Economics in Singapore. “Government officials are increasingly confident that they’ll get closer to their 8 percent growth target than many feared a few months ago.”

OECD Raises China Growth Forecast to 7.7% on Stimulus Measures – Bloomberg.com

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