OECD Revises Up Forecast For China's 2020 GDP Dynamics To 1.8% Increase From 2.6% Drop

The Organisation for Economic Co-operation and Development (OECD) revised up its forecast for China's 2020 GDP dynamics and now expects it to grow by 1.8 percent, according to the new economic outlook

MOSCOW (UrduPoint News / Sputnik - 16th September, 2020) The Organisation for Economic Co-operation and Development (OECD) revised up its forecast for China's 2020 GDP dynamics and now expects it to grow by 1.8 percent, according to the new economic outlook.

In June, the OECD said that China's GDP would decline by 2.

6 percent if the second wave of the coronavirus was avoided.

The OECD also revised up the forecast for 2021. It expects the world's second largest economy to increase by 8 percent. In June the OECD said China's GDP would grow by 6.8 percent in 2021.

The OECD expressed the belief that China's economy was recovering quicker than expected thanks to significant infrastructure investment.