World Bank raises 2009 China’s economic growth forecast from 6.5 percent to 7.2 percent

World Bank raises 2009 China growth forecast

BEIJING — The World Bank is raising its 2009 growth forecast for China due to the country’s stimulus-driven investment boom.

But it also cautions that it is still too soon to say a sustained recovery is on the way.

The bank said Thursday it expects China’s economy to growth by 7.2 percent this year, up from its previous forecast of 6.5 percent.

It said China’s stimulus spending will strongly support growth. The multibillion-dollar stimulus calls for boosting growth through spending on construction and other projects.

But the World Bank also said trade and private investment would remain weak and a full-fledged rebound will have to wait for global demand for Chinese exports to recover.