Jiangsu Steel Group Co., Limited

Stainless steel manufacturer OEM & ODM

Macroeconomic indicators - Morgan Stanley and Deutsche Bank cut Chinese growth numbers

Inquiries : 1 - 2013-9-24 15:36:01

China¡¯s stocks fell last week after and Deutsche Bank AG cut their economic growth forecasts for the Asian country on concern a slowdown in the US and Europe will reduce exports.

Morgan Stanley cut its estimate for China¡¯s 2012 economic growth to 8.7% from 9%, citing the effects of weaker growth in the US and Europe.

It said "Gross domestic product growth will slow to 8.1% in the fourth quarter of this year from 9.7% in the first quarter."

According to Deutsche Bank China¡¯s economy may grow less than previously forecast in 2011 and 2012 amid the ¡°shock¡± of a US and European Union slowdown. The brokerage cut its 2011 GDP growth forecast to 8.9% from 9.1% and lowered its 2012 GDP growth estimate to 8.3% from 8.6%.