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Economic Growth to Slow Down in Second Half: Expert
China's economic growth is expected to slow in the second half of this year as sluggish overseas demand takes a bigger toll, the China Securities reported on Friday.
''Our country's economic growth is expected to show a trend of starting strongly and slowing gradually,'' the newspaper quoted an official of the State Economic and Trade Commission as saying.
China's gross domestic product rose a healthy 7.9 per cent in the first half of this year, bucking the global trend with help from strong state investment and returning consumption.
The slowing of the global economy would have a ''relatively big impact'' on China's exports while government deficit-spending was expected to ''have a reduced growth effect'' on the economy, the official was quoted as saying.
''It would be difficult for private-sector investment to grow significantly, the problem of lacking strength in investment could gradually show up,'' the official said.
Government officials have forecast the economy would grow between seven and eight per cent this year despite slowing export growth.
The State Statistical Bureau said on Thursday China's industrial output rose 8.1 per cent year on year the slowest growth in 18 months as weak overseas demand hammered the manufacturing sector.
Value-added industrial output rose 10.7 per cent year on year in the first seven months of 2001, the bureau said.
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