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Morgan Stanley to UBS Cut China Growth Forecasts After May Data

Morgan Stanley joined banks from UBS AG and Barclays Plc in cutting estimates for China’s economic growth after weaker expansion in exports, industrial output and new lending last month.

Morgan Stanley lowered its estimate for an increase in 2013 gross domestic product to 7.6 percent from 8.2 percent, economists led by Hong Kong-based Helen Qiao wrote in a note today. UBS and Royal Bank of Scotland Group Plc this week pared their forecasts to 7.5 percent while Barclays now sees 7.4 percent, which would be the slowest pace since 1990.