China's plane demand forecast up 8%

Boeing (BA.NYSE) raised its China plane demand forecast by 8% on expectations that the nation will need more that 6,020 aircraft in the next 20 years as overseas travel grows, Reuters reported, citing research from brokerage CLSA. Boeing expects China to overtake the United States as the world’s single-biggest aircraft market in the period through 2032. Chinese airlines are increasingly training their sights on overseas routes as the domestic market cools amid a slowing economy and government budget austerity. The overseas push is also fueled by rising numbers of outbound leisure travelers, expected to double to 200 million by 2020, according to CLSA.