IMF May Cut China 2014 Growth Forecast, Fund Official Says

The International Monetary Fund, which currently expects growth of 7.5 percent this year in China, may lower its forecast for the world’s second-largest economy, according to Changyong Rhee, director of the fund’s Asia and Pacific Department.

First-quarter data indicated “maybe we have to revise this growth rate slightly down,” Rhee said today at the Peterson Institute for International Economics in Washington.

“Our forecast at this moment is 7.5, and the market trend at this moment is slightly lower than that,” he later told reporters. “So we have to look at whether we have to do it or not.”

China’s National Bureau of Statistics in Beijing last month said that economic growth slowed to 7.4 percent in the first quarter from a year earlier, as the government tries to curb a credit boom while sustaining enough expansion to support employment.

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