Looks like China's growth will accelerate in the second half of 2009
NEW YORK (MarketWatch) -- Bank of America Merrill Lynch Monday raised its forecast for this year's China economic growth rate to 8.7% from 8.0%. Recent economic data "convinced the market that China's recovery is real," said Merrill economist Ting Lu in a note. Merrill expects China's economy to grow 9.2% in the third quarter and 11.3% in the fourth quarter. It also raised next year's growth rate to 10.1% from 9.6%. Earlier this month, China reported its economy increased by 7.9% in the second quarter.