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Strategies & Market Trends : Greater China Stocks

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From: Julius Wong	10/21/2012 8:00:27 AM
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China 2013 Growth May Slow to 23-Year Low, Honeywell Says By Thomas Black - Oct 19, 2012 Honeywell International Inc. (HON), the U.S. manufacturer selling products such as aerospace parts in China, is forecasting 2013 economic growth in the world’s most-populous country may decelerate to the slowest pace since 1990. “It wouldn’t be surprising to us if China didn’t break 7 percent GDP growth in 2013,” Honeywell Chief Financial Officer Dave Anderson said in a telephone interview. “Our expectation is that there’s going to be relatively muted growth overall.” Honeywell’s projections for China, as well as the U.S. and the euro area, are less optimistic than those of economists surveyed by Bloomberg. The Morris Township, New Jersey-based company plans to cut costs and introduce new products to keep earnings growth in 2013 at a similar level as this year. bloomberg.com

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