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World Bank cuts China 2012 growth forecast to 8.2%

This suggests China is set for its slowest annual growth in a decade

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Reuters Beijing
Last Updated : Jan 21 2013 | 2:54 AM IST

The World Bank has lowered its forecast for China's 2012 economic growth to 8.2% from 8.4% previously, it said on Thursday, reinforcing the view that China is set for its slowest annual growth in a decade.

But in a sign that activity could rebound next year, the World Bank said it had raised its 2013 growth forecast for China to 8.6%, from 8.3%.

The bank disclosed the revisions in its quarterly update of the Chinese economy, and comes ahead of China's official first-quarter growth report due on Friday at 0200 GMT.

Analysts expect the world's second-biggest economy to have grown by 8.3% between January and March, which would be its slowest annual pace in nearly three years.

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First Published: Apr 12 2012 | 9:28 AM IST

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