Mon, 04 Jun 2012 12:19:19 GMT
JPMorgan lowers its growth forecasts for China
As the economic situation in China deteriorates with the
weakening demand in exports and declining real-estate market, JPMorgan has lowered its economic growth estimates to 7.7%. The forecasts decreased by 1.5% from the
previous year's 9.2%, and have been reduced two times in a month. According to
Tim Condon, ING's Financial Markets chief Asia economist, the figures emphasize
that the recession is expanding to