Recent indicators show that China’s economy has cooled compared to the rapid growth seen last year but would not experience a "double dip" in growth, Reuters reported, citing a senior government economist. Lu Zhongyuan, deputy director of the State Council Development Research Center, told state media that China’s economic performance has "come down from a high" but remains at a normal level. "We can expect that this slight slowdown in the economy will not reverse in the short term, but there are no clear pressures for a major slowdown," Lu said. Lu also noted that the issue over Europe’s sovereign debt, modest global growth and China’s move to cool the domestic housing sector could also affect investor sentiment, but such factors would not derail domestic growth.