product gdp: The economic expansion below 3 percent is forecast to last for three years in a row, according to Global Times China. Real gross domestic product GDP expanded 3.3 percent in 2014, but the growth rate declined to 2.6 percent in 2015. Next year's growth forecast was cut to 2.6 percent from 3.0 percent unveiled six months earlier, according to the Ministry of Strategy and Finance. The ministry set this year's growth forecast at 2.6 percent. Confidence among consumers already worsened on political unrest caused by the impeachment of President Park Geun-hye. The downward revision for next year stemmed mainly from the expected slowdown in private consumption amid the expected interest rate hikes in the United States.
(news.financializer.com). As
reported in the news.
Tagged under product gdp, growth rate topics.