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Commodities fall on slower China growth forecast

Posted on 09 October 2012

Prices for a wide range of commodities fell Monday after a new forecast of slower growth in China ramped up worries about the global economy. The World Bank’s lowered expectation for China was one of three issues that prompted investors to sell riskier assets on a day when volumes were light because of the Columbus Day holiday.
The bank revised its economic growth forecast for China to 7.7 percent from 8.2 percent, which was issued in May. It said there is a risk of a more pronounced slowdown in China than currently expected, citing weak global demand. The bank also cut its forecast for developing Asia-Pacific economies to 7.2 percent from its May forecast of 7.6 percent………………………………………..Full Article: Source


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