World Bank cuts china 2012 growth forecast to 8.2%
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The World Bank has lowered its forecast for China's 2012 economic growth to 8.2 per cent from 8.4 per cent 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 per cent, from 8.3 per cent.
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 07:30 am.
Analysts expect the world's second-biggest economy to have grown by 8.3 per cent between January and March, which would be its slowest annual pace in nearly three years.
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