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World Bank Trims China's 2012 Growth Outlook

The World Bank on Thursday lowered China's growth estimate for 2012 to 8.2 percent from 8.4 percent.

The prospects for a gradual adjustment of growth remain high, the Washington-based lender said in its China Quarterly Update. For 2013, economic growth is seen at 8.6 percent.

"China's gradual slowdown is expected to continue into 2012, as consumption growth slows somewhat, investment growth decelerates more pronouncedly and external demand remains weak," said Ardo Hansson, lead economist for China.

"The risks of overheating are moderating, increasing the prospects to achieve a soft landing," Hansson added.

by RTTNews Staff Writer

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