IMF: China growth to rebound next year

AP News
Posted: Apr 17, 2012 9:10 AM
IMF: China growth to rebound next year

The International Monetary Fund says China's economic growth will slow this year to 8.2 percent but rebound to 8.8 percent in 2013, driven by domestic consumption.

The forecast Tuesday in the IMF's latest World Economic Outlook adds to expectations that Beijing will avoid an abrupt slowdown in its efforts to cool China's overheated economy.

Companies and investors are closely watching China because a sharp downturn in the world's second-largest economy could have global repercussions, hurting demand for industrial components, consumer goods and commodities such as oil and iron ore.

The IMF says China has been hurt by weaker demand for its exports but will benefit from "resilient domestic demand."

China's economy grew 9.2 percent last year.