Economics
Goldman Sachs Cuts China Growth Forecast After Slowdown
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Goldman Sachs Group Inc. economists lowered their forecast for Chinese economic growth after data showed a slowdown in April, joining banks including JPMorgan Chase & Co. and UBS AG in paring outlooks.
Gross domestic product will expand 7.9 percent this quarter from a year earlier, down from a prior projection of 8.5 percent, Song Yu and Michael Buchanan said in a research note today. They predicted 8.1 percent growth for the full year, compared with a previous forecast of 8.6 percent.