Morgan Stanley downgraded China's expansion forecast to 8.5% for 2012

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Source: China.org.cn
Morgan Stanley reported that it expects China's economy to expand by 8.5% in 2012 as compared to previous prediction of a 9% growth. Morgan Stanley attributed the forecast cut to slower than expected growth between January and April of 2012 and later than initially expected easing measures. The forecast downgrade came after China announced its GDP growth in Q1 attained three-year low of 8.1%.

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