The global economy could do with some good news, so many fund managers will be looking forward to China’s first-quarter growth figures, due to be released today.
Although China needs growth to slow down, much depends on it not slowing too quickly. Recent jobs data from the US disappointed. BlackRock estimates China will contribute two-fifths of global growth this year, twice as much as the US.
Yesterday’s Chinese lending figures nurtured hopes that Chinese growth will only slow moderately from the annual 8.9 per cent in the last three months of 2011. The median estimate of economists polled by Bloomberg is 8.4 per cent.
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