S&P cuts Asia Pacific growth figure
- Published: 25 Sep 2012 at 09.41
- Online news:
An economic downturn induced by the cooling Chinese economy, ongoing troubles in the eurozone, and a fragile recovery in the US have caused Standard & Poors Ratings Services to lower its earlier projection for economic growth rates for Asia Pacific.
The rating firm cut base case forecasts of 2012 real GDP growth by about half a percentage point for China to 7.5%; Japan to 2.0%; Korea to 2.5%; Singapore to 2.1%; and Taiwan to 1.9%.
For Australia, the forecast is marginally down to 3.0% from 3.2%.
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