Goldman Sachs Cuts China Earnings Forecasts as Economy Slows

Goldman Sachs Group Inc. lowered earnings growth forecasts for China’s companies and Credit Suisse Group AG cut the nation’s stock index targets as the economy slows.

Profits for companies in the MSCI China Index may increase 1.8 percent this year and 8.6 percent in 2013, compared with previous growth estimates of 6 percent and 12.3 percent, Helen Zhu and Timothy Moe, analysts at the U.S. bank, wrote in a report dated yesterday. Credit Suisse lowered its 12-month target for the index to 60 from 70, analysts Vincent Chan and Peggy Chan said in a report today.