UBS cuts China 2011, 2012 GDP forecasts amid global slowdown

Friday, 26 August 2011 00:02 - - {{hitsCtrl.values.hits}}

SINGAPORE: UBS lowered its 2011 and 2012 growth forecasts for China on Thursday, saying much weaker growth prospects in developed economies would crimp export growth.

UBS said it now expects 2011 gross domestic product growth of 9 per cent, down from its earlier projection of 9.3 per cent. For 2012, it sees GDP growth of 8.3 per cent, down from its previous forecast for 9 per cent.

“A significant drop in export growth, which could start in Q4 2011, is also expected to affect manufacturing investment and consumption,” UBS wrote in a note to clients.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.