On Second Thought, China Slowdown Will Hit Global-Growth Outlook
- Moody's reduces 2016 world expansion forecast to 2.8%
- Citigroup says actual global GDP may be weaker than data show
Is China in the Midst of a Hard Landing?
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China’s deepening struggles are starting to make a bigger dent in the global economic outlook.
Moody’s Investors Service on Friday cut its 2016 growth forecast in Group of 20 economies to 2.8 percent, down 0.3 percentage point from the company’s call less than two weeks ago. China is projected to grow 6.3 percent in 2016, down from 6.5 percent previously, the credit-rating company said in a report. Citigroup Inc. last week pared its projection for world growth in 2016 to 3.1 percent from 3.3 percent, the third straight time the bank has cut the forecast.