Monday, October 19, 2015

Promoted From the Comments: top Swedish Economist Says China's Growth Really 3%, not 6.9%

China’s economy is officially growing at 7%, but few economists actually believe that number to be accurate.

Mauro Gozzo, chief economist at Business Sweden – an organization jointly owned by the government and the business community – estimates that the real growth of China’s gross domestic product is just 3%.

“China is wrestling with serious economic difficulties and our estimates place the actual growth at a much lower rate than the official data,” he said in a new report. “We have often pointed out that the official statistics should be taken with a grain of salt.”

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