OECD ups growth projections

30 November 2005

The OECD has increased its growth forecast for China, predicting economic expansion of 9.3% this year, 9.4% in 2006 and 9.5% in 2007. The figures, in its latest Economic Outlook report, are higher than the 9% growth rate projected for 2005 and 9.2% growth rate for 2006 predicted in its Economic Survey of China published in September. "Economic growth in China has remained rapid in 2005 buoyed by the strong contribution from the external sector," the report said, noting that brakes on textile exports had had limited effect on the economy.