Statistics from the Ministry show that out of the 141,000, 75.73 percent of them came from Asia, 11.67 percent from Europe, 9.37 percent from America, 1.95 percent from Africa, and another 1.28 percent from OceaniaChina's economy will grow 9.2 per cent this year, the Asian Development Bank predicted yesterday. It had earlier put the predicted growth rate at 8.5 per cent. The country's economy showed little signs of a slowdown in the first half, propelled by surging exports, strong investment and accelerating consumption, the bank's senior economist Zhuang Jian said. The growth will continue in the second half thanks to rising incomes and consumption, he said. However, the economy is expected to grow at less than 9 per cent next year, according to the bank's Asian Development Outlook 2005 Update. The consumer price index, the policy-makers' key inflation measurement, is expected to rise less than 3 per cent this year and next.In an interview carried by the San Francisco Chronicle on Sunday, Parry said the Fed funds rate could not remain at 1.0 percent indefinitely."Let's assume inflation averages 1 to 2 percent. Then you could see maybe the natural funds rate would be -- I don't know -- 3.5 percent, something like that," Parry said.A neutral level of interest rates is where the official interest rate neither stimulates nor weighs on the economy. Fed officials have said that the 1.0 percent Fed funds rate is accommodative, or supporting economic activity.Parry sounded comfortable with the outlook for inflation. "I think inflation is reasonably well behaved at the present time," he said, adding that the risks going forward were reasonably well balanced.For the foreseeable future, and at least the year ahead, Parry said inflation would likely be in the range of 1.0 to 1.5 percent, depending on the measure used.Parry took an upbeat view on productivity, which he noted had been growing at an annual clip of 4.5 percent since 2000.
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