| China’s economic growth slowed in the latest quarter to a six-year low of 6.9%, adding to concerns that the world economy is entering a period of low growth that will extend into next year. One economic forecaster immediately cut its global growth forecasts for 2016 in response to the official figures from China, while stock markets and oil prices slid backwards.
The decline in heavy industry and construction has depressed demand for oil, iron ore and other commodities, dragging on growth in Australia, Brazil and other supplier countries. Oxford Economics, an independent forecaster, said it cut its forecast for world economic growth to 2.5% for 2015 and 2.7% for 2016, down from 2.6% and 3% respectively in June...............................................Full Article: Source
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