Tue, Jul 02, 2013 - Page 15 News List

Low factory growth bodes ill for China

PRIORITIES:Two surveys yesterday showed that the world’s No. 2 economy is slowing, but Beijing seemed unperturbed, saying officials should not chase growth at all costs

Reuters and AFP, BEIJING and SHANGHAI

Economists expect other data for last month — to be released in the next two weeks — to confirm their concerns of even slower growth in the quarter from the 7.7 percent seen in the first three months.

“The weak PMI reinforces our view that there is [a] 30 percent chance GDP may drop below 7 percent in Q3 or Q4,” Nomura Holdings Inc chief China economist Zhang Zhiwei (張智威) said in Hong Kong.

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