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Roadbuilding
July 2, 2009
8% economic growth likely, says China’s central bank
HONG KONG
The head of China’s central bank said Monday the country’s economy was on the mend and expressed confidence that a government target of eight per cent growth this year would be met.
Zhou Xiaochuan, governor of the People’s Bank of China, said signs the downturn in the world’s third-largest economy was levelling off began to emerge in March.
Beijing has sought to insulate China from the global recession with a four trillion yuan (US$586 billion) stimulus plan that calls for higher spending on construction of highways and other public works.
Associated Press
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| ALEX’S ECONOMICS BLOG |
Reed Construction Data Chief Economist Alex Carrick discusses current developments in the North American economic environment with emphasis on the construction industry.
- Canada’s construction starts in a transition phase (August 27, 2010)
- U.S. initial jobless claims rise to half a million again (August 19, 2010)
- It’s been 35 years since institutional construction starts as strong (August 6, 2010)
- More
