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%.
( Source: www.steelguru.com )