Morgan Stanley Sees China Missing Its Growth Target This Year
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Morgan Stanley reduced its forecasts for China’s economic growth into next year, citing weaker investment due to the property market slump and local government financial stress.
The investment bank now sees gross domestic product expanding 4.7% this year, down from an earlier projection of 5%. It also lowered next year’s forecast to 4.2% from 4.5%, economists led by Robin Xing said in a research note on Wednesday.