The Chinese Academy of Social Sciences (CASS) has revised its forecast for China’s economic growth in 2009 downward to 8.3%, state media reported. The think tank had orginally predicted that China’s GDP had a "70% chance" of growing at 9% or higher in 2009. The new figure is lower than the United Nations Development Program’s prediction of 8.4% growth for this year. CASS also predicted that the recent economic stimulus package will position China’s economy for an early recovery in the third quarter and that primary, secondary, and tertiary industries will grow at 5%, 9.8%, and 9.5%, respectively. The central government set a goal of 8% economic growth for 2009 at the Central Economic Work Conference on December 8 last year.
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