BEIJING (Commodity Online): The Chinese growth outlook is looking negative for the year, believes Standard Chartered Bank. This on the back of some disappointing manufacturing data emerging from the Asian powerhouse.
In an interview with the Xinhua new agency, Stephen Green, economist with Standard Chartered Bank opined that Chinese economic growth will slow down to 8.1% in 2012 and possibly edge up to 8.7% in 2013. He believes that the Chinese manufacturing sector is currently undergoing massive stress and contraction despite official manufacturing PMI being positive for January.
In 2011, the Chinese economy had grown by 9.2% with Q4 growth at 8.9% YoY- its slowest in 10 quarters.
The International Monetary Fund (IMF) is also negative on China, pegging 2012 growth at 8.2%, with an increasing warning that growth could drop by an additional 4% if the European debt crisis goes ballistic.
