Economists fear deeper economic slowdown in China
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Economists fear deeper economic slowdown in China

Last Updated: Friday, July 13, 2012, 10:07
 
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Economists fear deeper economic slowdown in China
Beijing: Official data due to be released this week is expected to show China’s growth slowing to its lowest rate since the 2008 global financial crisis.

According to a Wall Street Journal report, but some economists have warned that the true picture could be even worse.

China’s National Bureau of Statistics is scheduled to report a second-quarter gross domestic product growth, and according to a Dow Jones poll of 15 economists, it is likely to show the country’s economy grew by 7.6 percent from a year earlier.

That is down from 8.1 percent growth in the first quarter, and the slowest pace since the first quarter of 2009.

Some economists fear that the country’s growth is even slower than official data suggests, which would compound fears that China is poorly placed to help lift a slumping world economy.

Economists have responded to long-standing doubts about the reliability of official data by constructing their own indexes of China's growth.

Typically these are based on measures, such as electricity production, rail freight and real estate construction that should track growth closely but are regarded as less prone to political interference.

Capital Economics proxy indicator suggests that China’s economy grew by around 7.6 percent in the first quarter of this year, half a percentage point lower than the official GDP figure.

ANI



First Published: Friday, July 13, 2012, 10:07


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