Consumer spending expected to boost China's economy

China's economic growth may not slow much next year. From Bloomberg:

JPMorgan Chase & Co. and Deutsche Bank AG raised their estimates for economic growth in China as a two- year push by Premier Wen Jiabao to encourage consumer spending begins to gain traction.

JPMorgan boosted its forecast for 2006 to 10.6 percent from 10 percent and said the economy may grow 9.5 percent next year, up from 9 percent previously. Deutsche Bank increased its 2006 estimate to 10.6 percent from 10.4 percent and its 2007 forecast to 9.5 percent from 8.9 percent.

Another economy that can probably afford to boost domestic demand is Singapore, if its inflation rate is any indication. From the Department of Statistics:

On a seasonally adjusted basis, the consumer price index in September 2006 decreased by 0.1 per cent over August 2006.

Compared with the same month a year ago, the consumer price index in September 2006 was 0.4 per cent higher. For the first nine months of 2006, the consumer price index rose by 1.1 per cent over the same period of 2005.