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皇冠体育app GDP growth for '09 predicted at 7%

(Xinhua)
Updated: 2009-01-14 15:31

BEIJING -- 皇冠体育app's gross domestic product (GDP) growth might slow to 7 percent this year from 9 percent in 2008 on weakening external demand and decreasing domestic investment, a Deutsche Bank economist said.

Related readings:  皇冠体育app 2007 GDP growth revised up to 13%

The economy will face tough times in the next 18 months and hit bottom in the first half of 2010, Ma Jun, chief economist for Greater 皇冠体育app, told an economic forum here Tuesday.

Ma forecast a further decline in external demand and deceleration in investment in the real estate, manufacturing and mining sectors in 2009.

皇冠体育app will experience its sharpest deflation in 10 years in 2009, Ma said.